WisdomTree Files Application For Spot Bitcoin ETF Following BlackRock's Filing
By BtcCasey WisdomTree, a well-known provider of exchange-traded funds (ETFs), has recently submitted an application seeking approval for the launch of the WisdomTree Bitcoin Trust, a spot bitcoin ETF. This move comes in the wake of BlackRock, another major institution, filing for a spot bitcoin ETF as well. These filings indicate the growing interest and recognition of bitcoin within the traditional finance industry.
In its filing, WisdomTree outlined its investment objective, which is to gain exposure to the price of bitcoin while considering the associated expenses and liabilities of operating the ETF. The valuation of shares will be based on the CF Bitcoin US Settlement Price, which aggregates trade flow from major bitcoin spot exchanges.
To facilitate the delivery of bitcoin to the Trust's custodian, U.S. Bank, National Association, WisdomTree plans to conduct "in-kind" transactions with Authorized Participants. This process enables the delivery or facilitation of Bitcoin without the need for cash transactions.
It is worth mentioning that while the Securities and Exchange Commission (SEC) has previously rejected applications for spot bitcoin ETFs, it has approved bitcoin futures ETFs. However, the recent filings by BlackRock and WisdomTree reflect the industry's ongoing push to provide regulated options for investors to participate in the bitcoin market, albeit sacrificing some of the characteristics exclusive to sovereign bitcoin usage.
The consecutive filings by BlackRock and WisdomTree highlight the increasing recognition of Bitcoin's potential within traditional finance. By applying for spot ETFs, these asset management giants are acknowledging the demand for regulated investment vehicles in the space, indicating a growing acceptance of bitcoin as an asset class. | 
