WisdomTree has been looking forward to the time when its Bitcoin Trust will start trading on CBOE BZX U.S. Equities exchange, but it might have to wait longer from the look of things. The firm is one of the many waiting for the U.S. Securities and Exchange Commission (SEC) to give its final word. Green light from the body would see the above parties join the CBOE BZX U.S. Equities exchange. The firm in question seeks to start trading under the BTCW ticker, but it will have to await the U.S. financial watchdog’s resolve.
The body’s silence over the matter is deafening for all the parties awaiting its greenlight, but they don’t have a choice but keep hopes alive. WisdomTree has been in a quest to unveil a Bitcoin exchange-traded fund (ETF) and anticipates that the U.S. Securities and Exchange Commission (SEC) will give the nod on the matter. A heads-up from the body will see the firm’s shares move into the CBOE BZX U.S. Equities exchange, which is the goal at the moment.
Reports show VanEck and NYDIG as part of those that had reached out to the SEC at the start of this year, and they wanted the body’s approval. Grayscale, which happens to be the biggest crypto asset manager globally, has also been dreaming about unveiling a Bitcoin ETF.
The parties must be patient
One would argue in defense of SEC, outlining its continued interest and support for Bitcoin and other crypto offerings adoption. This assertion is true, but the body still needs to take its time before giving its green light to the parties awaiting its resolve. So far, the U.S. financial watchdog remains tight-lipped on the matter pending before it, despite the great discomfort among the parties in question.
It is surprising how the body remains unmoved despite the strong efforts the parties have made to get its approval. WisdomTree continues to suffer the body’s indifference despite making what most people would regard convincing measures. Reports show WisdomTree as having presented wide-ranging commodities, including energy, Bitcoin, and precious metals.