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Swiss Asset Manager Pando Asset Files for Bitcoin Spot ETF with SEC
Swiss asset management company Pando Asset has joined the race for a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States.
On November 29, the company filed with the country’s Securities and Exchange Commission (SEC), becoming the 13th financial services firm to submit an application with the agency for a BTC trust without directly investing in the crypto asset.
Pando Names Coinbase as Custodian for Its Spot Bitcoin ETF
Like many spot Bitcoin ETFs filled with the SEC, the company’s proposed trust, the Pando Asset Spot Bitcoin Trust, seeks to mirror the price performance of BTC, bringing the virtual assets directly to the traditional financial ecosystem without directly getting involved in the crypto space.
If approved, the trust will consist primarily of BTC held by a custodian, and for that, the company has chosen Coinbase to serve as the custodian of the upcoming product offering.
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