Fund Manager WisdomTree Reportedly Refiles Spot Bitcoin ETF to SEC

WisdomTree Investments, a New York-based asset manager, has reportedly refiled a spot bitcoin exchange-traded fund with the U.S. Securities and Exchange Commission. The filing was made on July 2, according to public documents on the SEC’s website. The new ETF filing marks the second attempt from WisdomTree to receive SEC approval for a bitcoin ETF. The first filing was made in March of this year, but the regulator declined it due to the lack of regulation and trading venues. A new filing takes advantage of changes made to the cryptocurrency industry over the past few months, with the CME and Bakkt launching their own physically-backed bitcoin futures. WisdomTree believes that the launch of these regulated products will reduce concerns about the shift risk involved in trading cryptocurrencies, which was a point of contention for the SEC when it rejected the prior ETF filing. If approved, WisdomTree’s ETF would be the first public, exchange-traded fund to invest in spot bitcoin.