Bitcoin

Pando

Spot

James

<div class="cryptonews">
 <p class="is-style-lead">In a Dec. 5 post from Bloomberg Intelligence analyst James Seyffart, Swiss asset manager Pando was announced as an official entrant into the competition for a US spot Bitcoin ETF, <a rel="noopener noreferrer nofollow" title="filing" href="https://thebittimes.com/tag/filing.html">filing</a> a 19b-4 through the Chicago Board Options Exchange (CBOE).</p>
 <p>According to Seyffart, the new filling brings the number of potential issuers to 13.</p>
 <h2 class="wp-block-heading" id="better-late-than-never">Better late than never</h2>
 <p>The announcement, via X, highlights that Pando has entered the U.S. spot Bitcoin competition as a recent participant despite having established a presence with three other spot crypto exchange-traded products (ETPs) on the SIX Swiss Exchange.&nbsp;&nbsp;</p>
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    <p lang="en" dir="ltr">UPDATE: Pando officially enters the US spot #Bitcoin ETF race with a 19b-4 <a rel="noopener noreferrer nofollow" title="filing" href="https://thebittimes.com/tag/filing.html">filing</a> via @CBOE. 13 potential issuers now. (we saw their S-1 <a rel="noopener noreferrer nofollow" title="filing" href="https://thebittimes.com/tag/filing.html">filing</a> last week) pic.twitter.com/djBqBSqTlI</p>— James Seyffart (@JSeyff) December 5, 2023
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 <p>Pando’s 19b-4 <a rel="noopener noreferrer nofollow" title="filing" href="https://thebittimes.com/tag/filing.html">filing</a> comes one week after the announcement of its initial submission of form S-1, which registered securities with the agency for the Pando Asset Spot Bitcoin Trust.</p>
 <p>The proposed ETF involves the Bank of New York Mellon serving as the Pando Asset Spot Bitcoin Trust administrator. However, it is noteworthy that Pando is not registered with the SEC as an investment company.</p>
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 <h2 class="wp-block-heading" id="spurring-on-a-crypto-rally">Spurring on a crypto rally</h2>
 <p>Although no spot Bitcoin ETFs have been approved, positive updates around potential approval have sparked investor excitement.</p>
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 <p>Bitcoin (BTC) may&nbsp;surge beyond $40,000&nbsp;amid anticipation of the SEC’s upcoming decision on spot ETF approval. The numbers show a change in market sentiment, as the world’s largest cryptocurrency by market cap has not reached this level since April 2022, predating the collapse of Terra and other prominent crypto projects.</p>
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Fidelity may be considering a bitcoin spot ETF
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/pando-joins-u-s-spot-bitcoin-etf-race-with-newest-filing-tbt72691.html">https://thebittimes.com/pando-joins-u-s-spot-bitcoin-etf-race-with-newest-filing-tbt72691.html</a></p>

Pando joins U.S. spot Bitcoin ETF race with newest filing

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