WisdomTree Resubmits Bitcoin ETF Prospectus to SEC
On November 16, WisdomTree, an international ETF provider, submitted a revised Form S-1 for its Bitcoin ETF prospectus to the SEC. This resubmission follows their earlier spot Bitcoin ETF application in June 2023.
Ongoing Plans for ETF
The revised prospectus reveals that the WisdomTree Bitcoin Trust ETF will be traded under the ticker BTCW. Additionally, the custodial responsibility for safeguarding all of the trust’s Bitcoin assets will be entrusted to Coinbase Custody Trust. Bloomberg’s ETF analyst, James Seyffart, noted that these adjustments indicate the firm’s continuous efforts to introduce an ETF and ongoing discussions with the corporate finance division.
Predicted Delays for Bitcoin ETF Approval
Meanwhile, Mike Belshe, the CEO of BitGo, believes that the industry may face further delays in the approval of a spot Bitcoin ETF. Belshe suggests that the SEC will likely continue rejecting proposals for such ETFs in the near term due to unresolved issues within the regulatory framework.
Hot Take: Holding out for Bitcoin ETF Approval
Despite the resubmission of the Bitcoin ETF prospectus, industry experts like the BitGo CEO believe that there are still obstacles to overcome before the first round of Bitcoin ETFs go live, leading to potential delays in approval.
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