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WisdomTree Bet on Bitcoin ETF Despite Prior Denials

WisdomTree is about to launch a spot Bitcoin exchange-traded fund despite the failure of its peers.

The company filed with the U.S. Securities and Exchange Commission last week, making it its second Bitcoin ETF application after the first was rejected two years ago.

But WisdomTree’s Jeremy Schwartz thinks it could be different this time.

“We have successfully launched our product in Europe,” said the company’s global chief investment officer. CNBC’s “ETF Edge” this week. “European regulators have become friendlier than before, and we have become accustomed to the structure and the controllers.” [and] how the market works; “

The SEC rejected previous filings by WisdomTree in 2021 and 2022 for insufficient protection of investors and the public interest.

Schwartz hopes the changes made to the company’s latest filing will satisfy regulators.

“Part of the new application dossier includes data-sharing agreements, surveillance sharing and new methods,” he said. “The question is, does this address the SEC’s concerns about market manipulation? But I think that’s one of the issues we’re all trying to address.”

WisdomTree’s latest launch work Bitcoin. As of late Friday, prices are up almost 84% since the beginning of the year.

“It’s hard to comment too much on every detail while you’re in this situation. [filing] When asked by ETF Edge host Bob Pisani why he thinks the SEC will approve a spot Bitcoin ETF this time around, Schwartz said: “But I think what matters is whether exchanges share data … and [will the SEC] More comfortable than what was done before? I think data-sharing agreements are an important part of that. “

Interest seems to be growing.

According to SEC filings this week,, Fidelity Investments is also trying to launch a spot Bitcoin ETF despite past failures. Join Wisdom Tree, BlackRock, VanEck and Invesco.

Summarize this content to 100 words WisdomTree is about to launch a spot Bitcoin exchange-traded fund despite the failure of its peers.The company filed with the U.S. Securities and Exchange Commission last week, making it its second Bitcoin ETF application after the first was rejected two years ago.But WisdomTree’s Jeremy Schwartz thinks it could be different this time. “We have successfully launched our product in Europe,” said the company’s global chief investment officer. CNBC’s “ETF Edge” this week. “European regulators have become friendlier than before, and we have become accustomed to the structure and the controllers.” [and] how the market works; “The SEC rejected previous filings by WisdomTree in 2021 and 2022 for insufficient protection of investors and the public interest.Schwartz hopes the changes made to the company’s latest filing will satisfy regulators.”Part of the new application dossier includes data-sharing agreements, surveillance sharing and new methods,” he said. “The question is, does this address the SEC’s concerns about market manipulation? But I think that’s one of the issues we’re all trying to address.”WisdomTree’s latest launch work Bitcoin. As of late Friday, prices are up almost 84% since the beginning of the year.”It’s hard to comment too much on every detail while you’re in this situation. [filing] When asked by ETF Edge host Bob Pisani why he thinks the SEC will approve a spot Bitcoin ETF this time around, Schwartz said: “But I think what matters is whether exchanges share data … and [will the SEC] More comfortable than what was done before? I think data-sharing agreements are an important part of that. “Interest seems to be growing.According to SEC filings this week,, Fidelity Investments is also trying to launch a spot Bitcoin ETF despite past failures. Join Wisdom Tree, BlackRock, VanEck and Invesco.
https://www.cnbc.com/2023/07/01/wisdomtree-bets-on-bitcoin-etf-despite-prior-rejections-.html WisdomTree Bet on Bitcoin ETF Despite Prior Denials

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