US SEC initiates bitcoin ETF review .. 2nd case’Wizdom Tree’

It was revealed that the application procedure for bitcoin ETF by the US investment company Wisdom Tree was filed with the SEC (US Securities and Exchange Commission) on the 9th and officially entered the screening stage. Coinpost reported this on the 10th.

In the case of filing by the SEC, this is the second, and the first is VanEck’s Bitcoin ETF, and screening began on March 15th.

Wisdom Tree, which mainly operates an ETF business, submitted a Bitcoin ETF plan to the SEC on March 11th. This ETF plans to be listed on bZx of the derivatives exchange Cboe (Chicago Options Exchange) as the ticker symbol “BTCW,” and the price is based on CME’s CF Bitcoin US Settlement Price.

With the start of the SEC’s examination, a 45-day “first decision” is planned in the future. In calculations from April 9, the initial judgment is expected to be published until around May 23rd.

In addition, it is said that it is possible to extend it to around December 4th of this year because the judgment period is provided for a maximum of 240 days under the SEC rules.

[8th ETF application map]

In addition to applications from Wisdom Tree and VanEck, new applications were confirmed again.

On the 9th, an asset manager called Kryptoin Investment Advisors submitted a business description of the Bitcoin ETF to the SEC. It was the eighth case of applying for a Bitcoin ETF.

Kryptoin is an investment company founded by Jason Toussaint, former CEO of SPDR Gold Shares, a renowned gold investment company.

In this year’s “application rush” of the Bitcoin ETF, in addition to existing players who have tried to apply in the past, such as VanEck and Bitwise, Fidelity and New York Melon Bank (BNY Melon) also participate. The opinion that the background, etc. is different from the approved case is growing.

(Year of Rice, Wisdom Tree and Wisdom Tree.

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Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.