WisdomTree Revises Spot Bitcoin ETF: What Will the SEC Do?

• WisdomTree has submitted a revised prospectus (S-1 filing) for a spot Bitcoin ETF to the U.S. Securities and Exchange Commission (SEC).
• Bloomberg ETF analyst James Seyffart announced on November 17 that WisdomTree updated its spot Bitcoin ETF S-1 application with the SEC.
• Senior ETF analyst at Bloomberg stated that WisdomTree and Franklin are not included in the race because they applied too late and need to be held back.

Major asset manager WisdomTree updates its spot Bitcoin ETF application: SEC’s potential course of action?

WisdomTree Updates Bitcoin ETF Application

WisdomTree, an asset management company, has submitted a revised prospectus (S-1 filing) for a spot Bitcoin ETF to the U.S. Securities and Exchange Commission (SEC). Bloomberg ETF analyst James Seyffart explains that WisdomTree is still planning to launch an ETF but has fallen behind in the race for a spot Bitcoin ETF as others have already submitted updated applications.

Traders are paying attention to the SEC’s comments on the pending spot Bitcoin ETF, and experts indicate the necessity for further changes in ETF applications, pointing to a possible approval later this year.

Bloomberg ETF analyst James Seyffart announced on November 17 that WisdomTree updated its spot Bitcoin ETF S-1 application with the SEC. He noted that this shows WisdomTree’s intention to launch a spot Bitcoin ETF despite the recent delay from the SEC.

He stated, “It was expected that all issuers would file one of these at some point to potentially start their ETFs in the process. Just one step in the process. Nothing critical.”

The senior ETF analyst at Bloomberg did not include WisdomTree and Franklin in the race because they applied too late and should be held back. However, he expressed concerns about whether the SEC is waiting for all S-1 filings to be updated before the second round of comments.

Other Bitcoin ETF Applications

Issuers of spot Bitcoin ETFs, such as BlackRock, have already filed updated applications. The SEC has requested details on risk disclosures, new language, seeding, and more context. VanEck emphasized its plan to seed the BTC ETF with funds containing physical BTC.

Bloomberg’s ETF analysts estimate a 90% probability of spot Bitcoin ETF approval. They believe the SEC will likely approve a spot Bitcoin ETF after the final deadline in January.

BTC price has dropped by 3% in the last 24 hours and is currently trading at $36,380. The 24-hour low and high are $35,545 and $37,619, respectively. Additionally, trading volume has decreased by 10% in the last 24 hours, indicating a decline in trader interest.