WisdomTree has recently filed an amended S-1 form for its Spot Bitcoin ETF, bringing it a step closer to approval. This modification, made on November 16th, follows the company’s initial filing for a Spot ETF in June 2023 with the Securities and Exchange Commission (SEC).
In the revised filing, WisdomTree proposes a rule change regarding the future trading of its WisdomTree Bitcoin Trust. The company suggests that its shares be listed and traded on the BZX Exchange of the Chicago Board Options Exchange (CBOE).
Notably, WisdomTree’s ETF, trading under the symbol BTCW, will be held and safeguarded by Coinbase Custody Trust, which will hold all the trust’s Bitcoins.
A Classic Step in the Process, According to James Seyffart
So far, only two other companies, Franklin Templeton and Global X, have yet to amend their S-1 filings. Bloomberg ETF analysts, including James Seyffart, view this modification as a typical step in the ETF launch process.
In a recent tweet, Seyffart maintains an optimistic outlook, estimating a 90% likelihood of the SEC approving a Spot Bitcoin ETF by the end of January 2024, despite anticipated delays in the SEC’s decisions.
