New York’s Asset manager, WisdomTree, has changed its approach to Bitcoin (ETF) with the Securities and Exchange Commission to name Bank of America as its trustee.

In a statement Wednesday, WisdomTree listed the US National Banking Association as a holder of Bitcoin (BTC) shares. The inclusion of the file is a change to his March 11 entry for the Bitcoin exchange fund which was submitted to the SEC before the United States. The bank provides encryption custody services to financial institutions.

On December 2, the SEC rejected a legal change proposed by Cboe BZX Exchange for the registration and sale of WisdomTree Bitcoin Trust shares. It is unclear if the latest change is aimed at upgrading the clock in the new Bitcoin ETF application, which was given to WisdomTree, which waits 265 days between the request and the SEC’s refusal. A separate EF request for WisdomTree Ethereum Trust submitted to the SEC in May is under consideration.

Related: US “no doubt” behind encryption ETFs, says Brian Brooks

With over $ 76 billion in assets under control, WisdomTree has also launched four cryptocurrencies in the United States and Europe to offer a variety of homes to investors. In addition, the company already has a product for sale in exchange for cryptocurrencies on Euronext stock exchanges in Paris and Amsterdam.

US authorities have not yet approved a fund that sells cryptocurrency. Accordingly, the SEC has provided green light to future encryption-related products, including ETF futures contracts with investment firms ProShares and Valkyrie. Other US companies, including Fidelity, have successfully applied to Canadian authorities for EFFs using direct encryption.

Source: CoinTelegraph

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