WisdomTree asset management company has submitted a revised spot Bitcoin ETF prospectus (S-1 filing) 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 left behind the spot Bitcoin ETF race as others have already submitted updated applications.

WisdomTree Files Updated Spot Bitcoin ETF

Bloomberg ETF analyst James Seyffart on November 17 revealed WisdomTree has amended its spot Bitcoin ETF S-1 filing with the U.S. SEC. He said it indicates WisdomTree is still planning to launch a spot Bitcoin ETF after a recent delay from the SEC.

He explained that “All issuers were expected to have to file one of these in order to potentially launch their ETF at some point. Just a step in the process. Nothing critical.”

Bloomberg senior ETF analyst said he doesn’t include WisdomTree and Franklin in the race as they filed so late and should be held back. However, he raised concerns over whether the SEC awaits till all S-1 filings are updated before second-round comments.

Also Read: Bitcoin (BTC) Price Dramatically Slumps, Top Analyst Identifies Opportunity

Other Bitcoin ETF Applications

Spot Bitcoin ETF issuers including BlackRock have already filed amended spot Bitcoin ETF applications. The SEC required details about risk disclosures, new language, seeding, and further context. VanEck highlighted plans to seed the BTC ETF with funds domiciled in physical BTC.

Bloomberg’s ETF analysts kept the odds of spot Bitcoin ETF approval at 90%. They believe the SEC is likely to approve a spot Bitcoin ETF after the deadline in January.

BTC price fell 3% in the past 24 hours, with the price currently trading at $36,433. The 24-hour low and high are $35,545 and $37,619, respectively. Furthermore, the trading volume has further decreased by 10% in the last 24 hours, indicating a decline in the interest of traders.

Also Read: Crypto Market Selloff—BTC, ETH, XRP, SOL Continue Falling After BlackRock Ether ETF News

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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