TechFlow news, according to Bitcoin Magazine, asset management firm WisdomTree has filed an application seeking approval to launch the WisdomTree Bitcoin Trust, which would be listed on the Cboe BZX Exchange. In its filing, WisdomTree outlined its investment objective: to provide exposure to the price of bitcoin, net of the trust’s expenses and liabilities.
WisdomTree intends to value the shares daily based on the CF Bitcoin Reference Rate (BRR) U.S. dollar price, which aggregates trading activity from major bitcoin spot exchanges. WisdomTree's approach involves "in-kind" transactions with authorized participants, enabling them to deliver or facilitate the delivery of bitcoin to the trust’s custodian, The Bank of New York Mellon.
Notably, although named a trust, WisdomTree’s filing, like BlackRock’s, functions as a spot ETF. If approved, the fund will be listed on the CBOE BZX Exchange.
