$ 60 billion asset manager intends to launch bitcoin futures ETFs

06/17/2020

Alex Kondratyuk

Financial giant WisdomTree withover $ 60 billion of assets under management filedAn application for the launch of ETFs, 5% of which will be bitcoin futures contracts. This was reported on the website of the US Securities and Exchange Commission (SEC).

According to the application of the New York company, in addition toThe Chicago Mercantile Exchange (CME) Bitcoin Derivatives Fund will consist of assets in the energy sector, industrial and precious metals, and agricultural commodities.

SEC has previously rejected many launch applicationsETFs, fully or partially represented by bitcoin. Basically, the regulator argued the refusal by the small size of the cryptocurrency market. The latter, according to the Commission, is significantly susceptible to manipulation. he lacks regulation and reliable custodial services.

Recall that last December, WisdomTree launched an exchange-traded Bitcoin-based (ETP) product on the Swiss SIX Swiss Exchange.

Also earlier, ForkLog announced WisdomTree's plans to release an adjustable stablecoin.