- WisdomTree and Invesco are joining investment giant BlackRock in the race for spot Bitcoin ETFs.
- WisdomTree files for a spot Bitcoin ETF, aiming to enable exposure to Bitcoin prices with ticker symbol “BTCW.”
- Invesco reactivates its application, signaling renewed interest in the cryptocurrency space.
As the crypto winds gain momentum, the sails of investment titans are set. Spot Bitcoin ETFs are becoming the treasure everyone wants a piece of. Investment colossus BlackRock recently sent ripples through the market with its filing for a spot Bitcoin ETF, but it’s not sailing solo. WisdomTree and Invesco have hoisted their flags too.
WisdomTree, renowned for pioneering unconventional investment products, has thrown its hat in the ring with a recent filing for a spot Bitcoin ETF, branded WisdomTree Bitcoin Trust. Tantalizingly, WisdomTree didn’t wait for the ink to dry on BlackRock’s filing – it swooped in shortly after. Under the ticker symbol “BTCW” on the Cboe BZX Exchange, this Trust aims to gain exposure to the price of Bitcoin, less the expenses and liabilities of the Trust’s operations. With the CF Bitcoin US Settlement Price serving as an anchor, WisdomTree seeks to keep the valuation of shares grounded in an aggregation of executed trade flow across prominent Bitcoin spot exchanges.
Now, let’s turn the spyglass to Invesco. The investment management heavyweight has reignited its ambitions for a spot Bitcoin ETF, reactivating its application. This renewed vigor reflects the irresistible allure of cryptocurrency and its widespread adoption.
Invesco isn’t new to the crypto waters; they have been gauging the depths for quite some time. This reactivation signals a strategic move, poised to capitalize on the burgeoning interest in digital assets.
These positive currents are fostering an environment ripe for mainstream adoption and institutional acceptance of cryptocurrencies. The recent debut of EDX Markets, a cryptocurrency exchange backed by Charles Schwab and Fidelity, has also injected vigor into the market. Today, Bitcoin price charts are painting a more buoyant picture, indicative of the rippling effects of these developments.