WisdomTree has announced the launch of a bitcoin fund following the Securities and Exchange Commission’s decision to approve spot bitcoin ETFs yesterday (10 January).
The WisdomTree Bitcoin fund began trading on Thursday (11 January) on the Cboe BZX Exchange.
The asset manager has also announced a total fee waiver for either the first six months or the first $1bn invested. It will then charge 0.3%.
Jeremy Schwartz, WisdomTree Global CIO, said: “WisdomTree Bitcoin fund being declared effective by the SEC offers the nascent opportunity for investors to access bitcoin through an ETF, one of the most impactful financial innovations of our time.
“For investors that are willing and have the financial condition to accept more risk, but only seek to engage with this digital asset through regulated and traditional channels, this is a long-awaited opportunity in the US finally coming to fruition.
“It cannot be denied that financial services are undergoing a major transformation; how fast we get there depends on key moments like today. WisdomTree is proud to be a part of this historic moment.”
The fund joins BlackRock’s iShares Bitcoin Trust which also began trading on Thursday following the SEC’s approval.
WisdomTree offers eight crypto ETPs in Europe, though these are currently inaccessible in the UK.
