The U.S. Securities and Exchange Commission (SEC) has begun reviewing the Bitcoin Listed Index Fund (ETF) of Wisdom Tree, an asset manager.
According to the SEC document on the 9th (local time), the SEC is evaluating the documents for the Bitcoin trust submitted by Wisdom Tree. Wisdomtree is using this product on the Chicago Options Exchange (CBOE) Applied for listing on the affiliated BZX exchange. Wisdom Tree, which has released financial products (ETPs) exposed to cryptocurrencies several times, has expanded its scope to Bitcoin ETFs.
The approval of the Banek Bitcoin ETF, which was previously applied for, is expected to come out next month.
A growing number of large US asset managers are trying to launch bitcoin ETF products. Cryptoin Investment submitted its Bitcoin ETF documents on the 9th (U.S. time), and the number of companies currently waiting for approval has increased to five: Van Ek, Wisdom Tree, Valkyrie and NYDIG.
According to CNBC, Fidelity Investment, the world’s largest asset management company, is also preparing a bitcoin ETF under the name of’Wise Origin Bitcoin Trust’. Grayscale also announced through a blog that it would convert Grayscale Bitcoin Trust (GBTC) into Bitcoin ETF.
If the U.S. authorities approve Wisdom Tree’s application, the Bitcoin ETF market will expand sharply, mainly in North and South America. Earlier, authorities in Canada and Brazil approved the launch of the Bitcoin ETF.
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