Three major investment companies have applied for bitcoin-ETF registration following BlackRock

Three companies applied for bitcoin-ETF following BlackRock
Three major investment companies have applied for bitcoin-ETF registration following BlackRock
WisdomTree, Invesco, and Bitwise have followed the lead of one of the world's largest investment firms and applied for permission to launch a spot exchange-traded VTC product

Three major investment companies have applied for a bitcoin-ETF following BlackRock. Following it, WisdomTree, Invesco, and Bitwise applied to the U.S. Securities and Exchange Commission (SEC) for permission to launch a spot exchange-traded product based on the first cryptocurrency.

Asset manager WisdomTree is trying for the third time to get permission to create a spot Bitcoin ETF in the U.S. On June 20, it applied to launch the new product on the Cboe BZX exchange under the ticker BTCW, Bloomberg writes.

Another company, Invesco, which has $1.4 trillion in assets under management, has also reapplied for a bitcoin-based spot exchange-traded fund, CoinDesk reported.

Bitwise, a cryptocurrency-focused asset management company, applied to the SEC for ETF approval, taking its cue from BlackRock, according to Blockworks. It had already applied once before, in 2021, but the regulator rejected it in the summer of 2022.

A total of more than 30 attempts have been made by different companies to create a spot exchange-traded fund for Bitcoin, but all the applications were rejected by regulators, who cited market problems and a lack of investor protection.

Despite the constant rejections, iShares, a unit of BlackRock Investment Company, which has about $9 trillion under management, filed papers to incorporate the iShares Bitcoin Trust on June 15. That was the impetus for other major companies to once again try to launch Bitcoin exchange-traded products.

After WisdomTree, Invesco, and Bitwise became aware of the announcements on the evening of June 20, the exchange rate of the leading cryptocurrency began to rise. By the morning of June 21, it had updated the maximum for 1.5 months at $29 thousand.

Three companies applied for bitcoin-ETF following BlackRock

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