WisdomTree Investments (NASDAQ:WETF) has named US Bank as its custodian in an amended re-filing to the Securities and Exchange Commission (SEC) for its Bitcoin exchange traded fund (ETF).
The US asset manager, with US$76mln assets under management, made its first filing for a spot Bitcoin ETF back in March this year, prior to crypto custody services being offered to institutional investors by US Bank, which is a subsidiary of US Bancorp.
This filing was rejected on 2 December, with the SEC declining a proposed rule change from the Cboe BZX exchange to list and trade the Bitcoin ETF.
The proposal was refused on the grounds that any changes in the rules would not be “‘designed to prevent fraudulent and manipulative acts and practices” nor “protect investors and the public interest”.
WisdomTree has launched four cryptocurrency indices in the US and Europe so far, as well as Bitcoin and Ethereum exchange-traded products on the Euronext exchanges in Paris and Amsterdam.
WisdomTree also has an Ethereum ETF still under review with the SEC since May.
Regulators in the US have approved products linked to crypto futures throughout the year, most notably from ProShares and Valkyrie.
However, it is yet to give the green light to a crypto-currency ETF.
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