New York-based $64 billion asset manager WisdomTree has joined the growing list of Bitcoin ETFs waiting for a green light from the U.S. Securities and Exchange Commission (SEC).
The firm filed with the SEC to launch a Bitcoin exchange-traded fund (ETF) on Thursday. If approved, the shares of the WisdomTree Bitcoin Trust will be available to trade on CBOE BZX U.S. Equities exchange under the BTCW ticker.
However, considering the silence of the U.S. financial watchdog, WisdomTree might have to wait a bit longer.
VanEck and NYDIG had sought approval from the SEC earlier this year. It is also rumored that the world’s largest crypto asset manager Grayscale is looking to launch a Bitcoin ETF. But amid the institutional adoption and interest in Bitcoin and other crypto offerings, the SEC is yet to approve any Bitcoin ETF to date.
Companies are trying all they can to get approval from the SEC. The agency does not seem to care though. Last year, in an attempt to get a nod from the SEC, WisdomTree offered a plethora of commodities including Bitcoin, energy, and precious metals.
Some analysts opine that things might change with the new leadership of Gary Gensler.