BlackRock, Inc. filed with the SEC for the iShares Bitcoin Trust. The trust was formed as a Delaware statutory trust on June 8, 2023. The purpose of the trust is to own bitcoin transferred to the trust in exchange for Shares issued by the trust. Each share represents a fractional undivided beneficial interest in the…
The U.S. Banking Committee has approved the nomination of Gary Gensler as chairman of the SEC.
The SEC currently has 4 applications on file for the approval of a Bitcoin ETF. The first of them was filed in December 2020, increasing the pressure on the agency to approve the first Bitcoin ETF in the US. The latest application was filed just yesterday, Thursday, March 11, 2021, by asset management firm WisdomTree.
In the prospectus, the firm states that WisdomTree Bitcoin Trust will issue common shares listed on the Cboe BZX exchange under the ticker symbol BTCW. WisdomTree Digital Commodity Services will serve as the ETF’s sponsor and Delaware Trust Company will be the trustee. In this way, the product will provide exposure to the Bitcoin price based on the US CF Bitcoin fixed price. The company will hold Bitcoin itself, but will not “sell or buy BTC directly.”
Vaneck Files New Bitcoin ETF Proposal With SEC Under New Administration
After successfully launched a bitcoin exchange-traded product in Europe, Vaneck has now filed a new proposal for a bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). Under former chairman Jay Clayton, the SEC never approved a bitcoin ETF. However, Clayton has resigned from his post and changes may be coming from the incoming Biden administration.
First Bitcoin ETF Filing After Clayton’s Departure
New York-based investment management firm Vaneck filed a registration statement with the U.S. Securities and Exchange Commission (SEC) on Dec. 30 to list and trade the Vaneck Bitcoin Trust. According to the filing, the sale of the fund’s shares will commence “As soon as practicable after the effective date of this registration statement.”