Pando Asset AG is the latest asset management firm to join the race for spot Bitcoin ETF- Exchange Traded Fund in the United States.
Pando Asset Officially Joins the Race
The Swiss-based firm, which already offers crypto Exchange-Traded Products (ETPs) in Europe, filed a new application with the United States Securities and Exchange Commission (SEC) for a spot Bitcoin ETF by filling out the S-1 form. The firm plans to trade the Pando Asset Spot Bitcoin Trust on the Cboe BZX Exchange while American cryptocurrency exchange Coinbase will acts as its custodian.
Pando Asset also intends to use CME’s CF Bitcoin Reference Rate for Bitcoin pricing. According to the official website of the investment management firm, it already provides ETPs that track the prices of top cryptocurrencies to European traders on the SIX Swiss Exchange.
With the numerous influx of spot Bitcoin ETF applications, the SEC is yet to approve any application. Although many crypto players believe that the regulator wo
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