The Swiss asset management firm Pando Asset is seeking approval from the U.S. Securities and Exchange Commission (SEC) for a spot Bitcoin ETF. This proposal, named the Pando Asset Spot Bitcoin Trust, intends to be listed on the Cboe BZX Exchange and plans to use Coinbase as its custodian. The trust aims to determine Bitcoin prices using the CME's CF Bitcoin Reference Rate.
Pando Asset's initiative is in line with its existing products in Europe, where it offers exchange-traded products tracking major cryptocurrencies on the SIX Swiss Exchange. This move marks a strategic effort to reach a wider global investor base, particularly in the cryptocurrency market.
However, the SEC has been traditionally cautious regarding spot crypto ETFs, often delaying or rejecting similar proposals from major asset managers like BlackRock, Fidelity,
#Bitcoin, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News, #PandoAsset
First found on: Swiss Firm Pando Asset Seeks SEC Nod for Bitcoin ETF
Comments
Post a Comment