WisdomTree stands as an asset manager based in New York, and has recently filed for its own version of the Bitcoin Exchange-Traded Fund, or ETF. The filing, as always, was made to the US watchdog, the Securities and Exchange Commission.

A New BTC ETF Tries To Enter The Fray

The filing itself was made on the 11th of March, 2021. In the submitted filing, the firm explained that the WisdomTree Bitcoin Trust will be traded within the BZX platform of the Chicago Board Options Exchange. The ticker for the ETF will be BTCW. Through the trust, investors would be capable of gaining exposure within the crypto space in a “safe”  and regulated manner. Speculators will be capable of using their brokers to execute orders, as well.

As for how the contracts would be settled, this will be done by way of the “CF Bitcoin US Settlement Price” from CFBenchmarks, which stands as a price index that tracks Bitcoin’s price through a number of powerful crypto spot exchanges.

Already Holding A History With BTC

It should be noted that WisdomTree has been pushing into crypto for a while now. One of the firm’s bigger achievements is successfully managing one of the leading ETH hedge funds out there. Back in June of 2020, the firm even tried to do an ETF, making a filing for one that would see up to 5% of it be put into Bitcoin futures contracts.

This comes despite the proposed ETF having nothing to do with Crypto, for the most part, focusing on agriculture, energy, and metals. It was back in December of 2019 when the firm successfully launched a Bitcoin Exchange-traded product, physically-backed, within the SIX Swiss exchange.

Everyone’s Clambering Over The Latest Innovation

WisdomTree isn’t the first, or probably the last, entity out there trying to gain the SEC’s approval for a shiny new Bitcoin ETF. NYDIG, a financial services firm focused on cryptocurrencies, filed for a Bitcoin ETF just last month. NYDIG’s filing saw Morgan Stanley, one of the top US banks out there, be among the authorized participants proposed in the filing.

VanEck, one of the leading issuers in exchange-traded products, filed for one in January, as well. Another ETF it filed for is one that tracks the performance of crypto firms in general, instead of the assets directly. That same month saw Valkyrie Digital Assets, based in Texas, file for a BTC ETF as well.