The U.S. Securities and Exchange Commission has requested further comment on WisdomTree’s filing for a spot Bitcoin ETF. WisdomTree applied for a spot Bitcoin ETF in February 2022, and in March the SEC issued a notice delaying the deadline to decide whether to approve the listing of the WisdomTree spot Bitcoin ETF, extending the approval deadline for the WisdomTree Bitcoin Trust until May 15.
The SEC now requires commenters to answer a series of questions, such as whether WisdomTree’s proposed product is vulnerable to manipulation, and whether the Bitcoin market has grown to a point where there is no significant risk of manipulation, and commenters will have 21 days to submit data and arguments , and another two weeks to submit rebuttals to those comments.
While the U.S. Securities and Exchange Commission has approved futures-based bitcoin ETF offerings, they maintain that the spot market has not yet reached enough oversight-sharing agreements to reduce fraud.