New York-based asset manager WisdomTree has filed for a Bitcoin commutation-traded fund, or ETF, with the U.S. Securities and Exchange Commission.

The firm submitted its filing on March 11. Information technology states the WisdomTree Bitcoin Trust would trade on Chicago Board Options Exchange's BZX platform nether the ticker BTCW. The trust would offer a regulated style for investors to gain exposure to the price of Bitcoin, and allow speculators to execute trades through their brokers.

Contracts would be settled according to CF Benchmarks'southward "CF Bitcoin US Settlement Price," a price index that tracks the cost based on major BTC spot exchanges.

The proposed ETF is not WisdomTree'south first foray into crypto, with the firm currently managing a leading institutional ETH fund.

In June 2020, WisdomTree filed for an ETF that would invest up to v% of capital into BTC futures contracts, despite the fund being primarily focused on energy, agronomics, and metals. In December 2019, the business firm launched a physically-backed Bitcoin commutation-traded product that was listed on the Six Swiss Exchange.

WisdomTree is not lone in seeking SEC approval for a Bitcoin ETF. Last month, crypto-focused fiscal services house NYDIG filed for a Bitcoin ETF, with summit U.S. investment bank Morgan Stanley amid the proposed fund'due south authorized participants

Leading exchange-traded product-issuer VanEck filed for its ain BTC fund in Jan, in improver to an ETF tracking the performance of leading crypto firms. Texas-based Valkyrie Digital Assets also filed for a Bitcoin ETF that same month.

Even so, VanEck's bid for ETF approval may be impacted by an ongoing lawsuit from its former partner, blockchain tech business firm SolidX — with the company accusing VanEck of plagiarizing a product the two firms worked on together during 2018 and 2019.