WisdomTree has reportedly decided to revise the proposal of earlier Bitcoin ETF application by naming a US bank as its custodian.

<span style="font-weight: 400">In October, U.S. Bank launched crypto custody services for institutional investors. The custody has been <a href="https://timesofindia.indiatimes.com/business/cryptocurrency/blockchain/us-bank-introduces-cryptocurrency-custody-services/articleshow/86818966.cms" target="_blank" rel="nofollow noopener">established</a> as part of a partnership with New York Digital Investment Group. New York Digital Investment Group will be the first sub-custodian to support the bank's new offerings.
NYDIG is a significant technology and financial services firm devoted to Bitcoin and Stone Ridge Asset Management division. Other cryptocurrencies, such as Ethereum, will be added to the new services shortly.</span>
<h2>WisdomTree lists U.S. Bank in its Revised Bitcoin ETF Application</h2>
<span style="font-weight: 400">WisdomTree's March 11 registration for a spot Bitcoin exchange-traded fund, or ETF, has been amended. Before the U.S. Bank offered crypto custody services to institutional clients, this document was submitted to the SEC.</span>

<span style="font-weight: 400">The Securities and Exchange Commission (SEC) denied a proposal from the <a href="https://www.cryptoknowmics.com/news/cboe-applies-with-the-sec-to-list-fidelity-bitcoin-etf/">Cboe BZX Exchange</a> to list and trade shares of WisdomTree's Bitcoin Trust on December 2. Given WisdomTree delayed 265 days between its initial submission and the SEC denial, it's unclear if the newest change is targeted at resetting the clock on a new spot Bitcoin ETF application. The SEC is still reviewing a different ETF application for WisdomTree's Ethereum Trust, submitted in May.</span>
<h2><span style="font-weight: 400">The Crypto Exchange Launched Four Cryptocurrencies</span></h2>
<span style="font-weight: 400">WisdomTree, which manages over $76 billion in assets, has created four cryptocurrency indices in the United States and Europe to give investors a diverse portfolio exposure. Furthermore, on the Euronext markets in Paris and Amsterdam, the business already offers an exchange-traded product exposure to a basket of cryptocurrencies.</span>

<span style="font-weight: 400">A bitcoin exchange-traded fund has yet to be approved by U.S. regulators. On the other hand, the SEC has <a href="https://www.cryptoknowmics.com/news/us-securities-and-exchange-commission-sec-approves-the-proshares-bitcoin-strategy-etf/">approved</a> products tied to cryptocurrency futures, such as BTC futures ETFs from investment managers ProShares and Valkyrie. Fidelity, among other U.S. corporations, has successfully applied to Canadian regulators for ETFs with direct exposure to cryptocurrency.</span>

WisdomTree Revises Bitcoin ETF Application, Naming U.S. Bank as Custodian

WisdomTree has reportedly decided to revise the proposal of earlier Bitcoin ETF application by naming a US bank as its custodian.

Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

WisdomTree Revises Bitcoin ETF Application, Naming U.S. Bank as Custodian

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