WisdomTree’s Spot Bitcoin ETF Rejected by The SEC

WisdomTree had refiled for a spot bitcoin ETF after previously being denied.Read MoreCoinDesk

The WisdomTree Bitcoin Trust was disapproved by the Securities and Exchange Commission (SEC) on the grounds of investor protection.

The move comes as no surprise, the SEC having made clear for years it has no intention of approving a spot bitcoin exchange-traded fund (ETF).

There have a number of rejections over the past few months, the most notable of which was an application by Grayscale Investments to convert its massive Grayscale Bitcoin Trust (GBTC) into a spot bitcoin ETF. Grayscale and CoinDesk are each subsidiaries of Digital Currency Group.

WisdomTree was previously denied approval to list a spot bitcoin ETF in 2021, so this was the company’s second attempt at that listing.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.