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WisdomTree Lists Bitcoin ETP on Deutsche Boerse as ETF Application Awaits SEC Review
The bitcoin ETP goes live in Frankfurt while U.S. regulators consider WisdomTree’s bitcoin ETF application.
Asset manager WisdomTree Investments has listed its bitcoin exchange-traded product (ETP) on Deutsche Boerse’s Xetra market, based in Frankfurt.
STORY CONTINUES BELOW
The firm said Wednesday the WisdomTree Bitcoin ETP tracks the spot price of bitcoin has a total expense ratio of 0.95%, and is trading under the ticker “WBIT.”
WisdomTree said the product will give investors access to bitcoin without having to hold the crypto directly, store private access keys or interact with the digital currency infrastructure in any way. In March, WisdomTree said it had taken on Coinbase as its second custodian for the WisdomTree Bitcoin ETP.
“The Xetra listing, along with the recent appointment of Coinbase Custody as our second custodian, will appeal to a wide range of professional investors and really demonstrates our commitment to delivering a superior investment experience to those allocating to our bitcoin ETP,” said Jason Guthrie, WisdomTree European head of capital markets and digital assets.
Read more: SEC Begins Review of WisdomTree Bitcoin ETF as Active Applications Hit 8
The listing comes against the backdrop of a looming decision by the Securities and Exchange Commission (SEC) over whether to approve the first bitcoin exchange-traded fund (ETF) for U.S. investors.
On April 9, the SEC officially started its review of WisdomTree’s bitcoin ETF application.
So far, the SEC has blocked all attempts at launching such a vehicle, rejecting over a dozen applications in past years.
That hasn’t stopped Galaxy Digital, NYDIG, SkyBridge Capital and others from submitting bitcoin ETF applications to the SEC in recent months.
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
