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The proposed Bitcoin ETF from WisdomTree has been revised.

WisdomTree has submitted a revision to its Bitcoin ETF application, joining other financial institutions in the process. This revision represents a routine yet crucial step in the multi-stage approval process with the European Training Institute, according to prominent European Training Institute expert James Sivert. It signifies that WisdomTree is actively engaging in discussions with its corporate finance arm, and is not alone in its pursuit of a Bitcoin ETF.

Recent proposals for updates
Recently, similar amendments have been made by other key players in the industry. For example, Bitwise has resubmitted its modified proposal in response to comments and inquiries, for the first time in a new filing shortly.

The “spot” Bitcoin ETF, which is based on the current (“spot”) price of Bitcoin, is particularly attractive. It will directly track the actual price of Bitcoin, as opposed to relying on futures contracts, as is the case with some other proposed Bitcoin exchange-traded funds. This direct tracking makes the spot Bitcoin ETF more appealing to those seeking a purer exposure to Bitcoin, leading investment giants such as BlackRock to actively seek such a product.

Securities and Exchange Commission delay
However, the path to approval from the European Training Institute is fraught with delays and regulatory obstacles. Recently, decisions on numerous applications, including those submitted by Hashdex, Franklin, and GlobalX, have been postponed. These delays are not uncommon in the rigorous approval process for such financial products.

READ MORE Bitcoin (BTC) and Cryptocurrencies to Keep Surging: Upward Projections by

Despite these setbacks, analysts like Sivert remain optimistic about the future of these exchange-traded funds. Sivert expects a “very good chance” of approval by 90% by January 10, 2024.

Disclaimer: The information provided is not financial advice. does not take any responsibility for investments made based on the information provided in this article. We recommend consulting a qualified specialist or financial advisor before making any investment decisions.


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