Breaking: WisdomTree Files for Bitcoin ETF, Following Blackrock’s Lead

Just days after Blackrock made headlines with its ETF application, WisdomTree Investments, a prominent asset manager in the United States, entered the race as well. The company recently filed an application for its very own exchange-traded fund called the ‘WisdomTree Bitcoin Trust’ with the US Securities and Exchanges Commission (SEC). This move comes at a time when the SEC has been actively involved in legal battles with leading crypto exchanges Coinbase and Binance.

Blackrock, not to be left behind, has decided to forge ahead with its plans, partnering with Coinbase to utilize its custody service and spot market data for their ETF product. If successful, the Blackrock Bitcoin ETF could potentially attract institutional investors and reshape the landscape of the crypto market.

WisdomTree Bitcoin Trust Aims for Low Expenses and High Exposure

WisdomTree Investments has set its sights on gaining exposure to the price of Bitcoin while ensuring minimal expenses. To achieve this objective, the company plans to hold actual Bitcoin within its Bitcoin Trust, as detailed in their SEC filing. Notably, the WisdomTree Bitcoin ETF will also employ an independent pricing source to accurately value its Bitcoin holdings.

Also Read – Ripple Vs SEC: Hinman Papers Exposed – Why Did The SEC Exempt Ethereum From Regulatory Action?

Legal Battles Over Bitcoin ETF Applications Continue

Meanwhile, Grayscale, a renowned player in the crypto industry, finds itself locked in a legal battle with the SEC. The regulatory agency had previously rejected Grayscale’s spot Bitcoin ETF application, leading to a fierce court fight between the two parties. The race for a Bitcoin ETF is heating up, promising potential opportunities and innovations that could reshape the financial landscape as we know it.