WisdomTree’s Bitcoin ETF Proposal is being reviewed by the SEC.

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On Friday, the SEC issued a public notice stating that it would begin assessing and analysing asset manager WisdomTree’s Bitcoin ETF, which was filed in March.

Kryptoin, a blockchain fund management company, has also re-filed for a Bitcoin ETF.

It had previously suggested listing the ‘Kryptoin Bitcoin ETF Trust’ on NYSE Arca in October 2019. However, during the refiling, it was changed to Cobe’s BZX trade.

These two applications come at a time when the SEC’s table contains eight related applications for Bitcoin ETFs from companies such as VanEck, ASkyBridge Capital, and NYDIG. To date, regulators have not authorised any Bitcoin ETFs; however, this could change as the year progresses.

Bitcoin ETFs enable institutional and retail investors to participate in a managed asset class that includes Bitcoin without personally investing in Bitcoin. This offers a safe haven for them to park their funds in a volatile economy.

The SEC has also been evaluating VanEck’s application. The initial comment period for this filing closed on Friday with only five comments recorded at closing time.

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The definitive decision on whether to accept or deny the filing is expected to be made next month. Interestingly, Bitcoin ETFs are now in full swing in Canada and Brazil, among other countries.

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