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World Funds Trust Enters the Race for Spot Bitcoin ETF in the US: 6 Applications Submitted!

  • In another development in the field of Spot Bitcoin ETFs, a new applicant has approached the U.S. Securities and Exchange Commission (SEC) with Form N1-A.
  • On January 3, 2024, World Funds Trust submitted 6 spot BTC ETF applications, with T-Rex Capital Management serving as the investment advisor for the funds.
  • It is said that these funds differ from other spot ETFs as they aim to amplify the performance of an exchange-traded fund (ETF) attempting to replicate the performance of Bitcoin.

World Funds Trust stated in its SEC application on January 3 that it was preparing to offer 6 spot Bitcoin ETFs.

World Funds Submits Spot Bitcoin ETF Applications

Bitcoin-BTC

In another development in the field of Spot Bitcoin ETFs, a new applicant has approached the U.S. Securities and Exchange Commission (SEC) with Form N1-A, joining names like BlackRock and Fidelity in the battle for spot ETF approval in the United States. On January 3, 2024, World Funds Trust submitted 6 spot BTC ETF applications, with T-Rex Capital Management serving as the investment advisor for the funds.

The 6 applications include 3 each of leveraged and inverse BTC ETFs. Significantly, these applications noted that they intend to use the proposed iShares Spot Bitcoin ETF by investment manager BlackRock. Here are the 6 proposed spot BTC Daily Objective ETFs:

  • T-Rex 1.5X Inverse Spot Bitcoin Daily Objective ETF
  • T-Rex 1.5X Long Spot Bitcoin Daily Objective ETF
  • T-Rex 1.75X Inverse Spot Bitcoin Daily Objective ETF
  • T-Rex 1.75X Long Spot Bitcoin Daily Objective ETF
  • T-Rex 2X Inverse Spot Bitcoin Daily Objective ETF
  • T-Rex 2X Long Spot Bitcoin Daily Objective ETF

It is said that these funds differ from other spot ETFs as they aim to amplify the performance of an exchange-traded fund (ETF) attempting to replicate the performance of Bitcoin, such as the BlackRock Bitcoin ETF. For example, the 1.5X Long Spot BTC Daily Objective ETF aims to increase daily investment results by 150%, excluding fees and expenses.

When will Spot Bitcoin ETFs be approved?

The approval of the highly anticipated BlackRock BTC ETF is expected between January 8-10, 2024. These applications might be coming later compared to other applications like Ark Invest, 21Shares, and Grayscale. Additionally, some reports suggest the expectation of spot Bitcoin ETF approvals before January 5th.

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Celal Mutlu
Celal Mutluhttps://coinotag.com/
Celal Mutlu is a young Satoshi reflection at the age of 21. His favorite characters are CZ and Vitalik, and he has a great sense of humor. Celal is a keen follower of developments in the world of cryptocurrency and keeps up with the latest news and trends.
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