(BTC) Bitcoin News TodayCryptocurrencyCryptocurrency RegulationETF (Exchange Traded Fund)NewsTrading

WisdomTree Amends Spot Bitcoin ETF Proposal

WisdomTree is one of the financial giants that have filed for a Bitcoin spot ETF application. The firm has recently amended its Bitcoin ETF application and refiled it. In this manner, the financial firm has become one of the many institutions that are now in the running for Bitcoin spot ETF.

Multi-Stage Approval Process

The process of approval is multi-stage with WisdomTree officials working with the Corporate Finance Division of the Securities and Exchange Commission.

It is important to note that the firm has put an emphasis on spot Bitcoin ETF. This type of ETF tracks the value of BTC from the spot trading sector. It is not based on Bitcoin futures contracts that SEC has already approved.

The main reason for so much hype around Bitcoin is that it allows investors to invest in the actual price of BTC. On this account, BlackRock the biggest asset management firm in the world has also filed for Bitcoin spot ETF.

Top Financial Firms Refile Their Bitcoin ETF Applications

WisdomTree is among other financial institutions that have reapplied for a Bitcoin spot ETF after adding amendments to their application. Bitwise has also edited Bitcoin spot ETF based on the feedback and inquiries from regulators.

📰 Also read:  Coinbase Customers Outraged After A Failed AI Token Merger

In the same vein, GlobalX and Fidelity have also amended their Bitcoin spot ETF applications after redrafting. BlackRock reportedly applied for a new filing recently.

Following the foray of BlackRock, a host of financial institutions increased their efforts to finalize a Bitcoin spot ETF. On this account, the enterprise interest in Bitcoin has increased by many folds during the last few months. However, based on the previous processing of this type of ETF filings the regulatory delay is deemed commonplace and usual.

ETF requests from Franklin Templeton, Hashdex, and GlobalX are in processing. As per financial experts, the delay is on account of rigorous regulatory scrutiny process for these innovative investment options.

Fidelity Files ETF Based on Vanguard’s Multi-share Model

Fidelity is one of the financial firms that have filed for a Bitcoin spot ETF. The firm has recently filed for a new ETF filing based on the multi-share structure. The patent for the ETF structure expired in May 2023.

Fidelity aims to address the issue of cross-subsidization from financial regulators. This type of structuring will allow the investment firm to add an unspecified number of open-end mutual funds for listing ETF shares.

📰 Also read:  Ethereum ETF Gains Attention as Catalyst for Altcoin Growth, Analyst

The firm is working on optimizing interest from ETFs and mutual fund classes in its actively managed funds. Fidelity has also revised the application for Wise Origin Bitcoin Trust.

Most firms that have refiled their Bitcoin spot ETF applications have addressed reservations such as blockchain upgrades, custodial requirements, and mining power input.


Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  Coinbase Customers Outraged After A Failed AI Token Merger

Hassan Mehmood (Saudi Arabia)

Hassan is currently working as a news reporter for Tokenhell. He is a professional content writer with 2 years of experience. He has a degree in journalism.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content