WisdomTree Trust, a financial asset management firm that currently manages $60 billion in assets, has submitted an application to the US Securities and Exchange Commission (SEC) to launch a new exchange-traded fund (ETF) whose basket of assets will include Bitcoin futures.

According to advertiseThe ETF will be presented by WisdomTree for approval of 5% of Bitcoin futures contracts on the Chicago Mercantile Exchange.

The remaining funds are expected to be invested in the areas of various energy sources, minerals and precious industries, as well as agricultural products.

Meaning, the WisdomTree ETF contains only 5% of Bitcoin futures and the rest (95%) in non-Bitcoin assets.

The SEC has denied all requests to create a Bitcoin-related ETF so far.

Read:Here is what the founder of Binance had to say about the current drop in the crypto market!

Some companies have suggested including commodities other than bitcoin in the basket, for example, US government bonds, however, this did not help them get the green light from the SEC regulator.

William Beck, Head of Corporate Strategy at WisdomTree, recently stated that cryptocurrencies are a natural continuation of the company’s business model.

Read:Liquidation of more than 160 million dollars after the price of Bitcoin rose above 22 thousand dollars

WisdomTree launched the Bitcoin ETP (Exchange Traded Product) in December 2019 listed on the SIX Swiss Exchange.

Will WisdomTree receive approval from the SEC for the new ETF, or will it be rejected like its predecessors?

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