New York-based fully mostly investment supervisor WisdomTree filed an utility for a plight Bitcoin exchange traded fund on Tuesday, marking the third are attempting to begin the product in two years.

In step with a June 20 filing with the U.S. Securities and Alternate Commission (SEC), the firm is in quest of approval to list the “WisdomTree Bitcoin Belief” on the Cboe BZX Alternate underneath the ticker “BTCW.”

WisdomTree’s first utility for a plight Bitcoin ETF used to be rejected by the SEC in December 2021, and its 2d utility met the identical fate in October 2022. In both situations, the regulator cited concerns over fraud and manipulation within the crypto markets because the explanation for now not issuing an approval.

WisdomTree’s renewed optimism comes on the support of BlackRock’s filing for a plight Bitcoin ETF final week. The $10 trillion asset supervisor is in quest of approval to list its “iShares Bitcoin Belief” on the NASDAQ.

Other essential asset managers perceived to echo these sentiments, with Atlanta-based fully mostly Invesco reactivating its utility for a plight Bitcoin ETF slightly of underneath four hours later.

In the 19-b4 filing, which informs the SEC of a proposed rule switch, Invesco asked for its “Invesco Galaxy Bitcoin ETF” to be listed on the Cboe BZX exchange. The firm had filed for an ETF with digital asset supervisor Galaxy Digital in 2021, but abandoned the disaster a number of months later. Tuesday’s filing effectively-known that the product would present merchants with oblique publicity to Bitcoin, via the utilization of reliable custodians and repair suppliers.

The dearth of a plight Bitcoin ETF on the market has pushed U.S. merchants in direction of riskier which it is probably you’ll reflect of picks, like retaining their assets on FTX, Celsius, BlockFi and Voyager, argued Invesco within the filing.

Bloomberg ETF analyst Eric Balchunas commented that “BlackRock breathed new lifestyles into the plod” for Bitcoin exchange traded merchandise. Nonetheless, some alternate watchers commented that the timing of these filings used to be abnormal, given the in particular harsh regulatory stance the SEC has adopted in direction of the digital asset alternate of late.