WisdomTree Investments Files Bitcoin ETF Application Following BlackRock’s Move

WisdomTree Investments, a prominent asset manager in the United States, has filed an application with the Securities and Exchange Commission (SEC) to launch a Bitcoin exchange-traded fund (ETF) called “WisdomTree Bitcoin Trust.” The ETF is planned to be listed on the Cboe BZX Exchange under the ticker symbol BTCW. WisdomTree aims to gain exposure to Bitcoin’s price movements while considering the operational costs and obligations of the ETF. The value of the ETF’s shares will be calculated daily using the CF Bitcoin U.S. Settlement Price, which consolidates trading data from Bitcoin spot exchanges. WisdomTree’s decision to reenter the ETF race comes after its previous application was rejected in 2021. Interestingly, this move aligns with BlackRock’s application for a Bitcoin ETF, which has generated increased interest from other firms contemplating entering the Bitcoin ETF market.

BlackRock’s recent filing for a Bitcoin ETF has sparked hope and interest among various firms. ETF analysts Eric Balchunas and James Seyffart attribute this increased attention to BlackRock, citing the company’s substantial size, esteemed reputation, and influential position in the financial industry. The filing has instilled hope for approval and has motivated other firms to explore opportunities in the Bitcoin ETF space.