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SEC approves 9 more WisdomTree ‘blockchain-enabled’ funds

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SEC approves 9 more WisdomTree ‘blockchain-enabled’ funds

WisdomTree blockchain

SEC Approves 9 More WisdomTree ‘Blockchain-Enabled’ Funds

The U.S. Securities and Exchange Commission (SEC) has given the go-ahead to nine additional “blockchain-enabled” funds from WisdomTree Investments, Inc., a major provider of exchange-traded funds (ETFs).

The company announced the SEC has registered the ETFs under the Investment Company Act of 1940, allowing WisdomTree to offer them to investors.

About the Funds

The now-approved WisdomTree family of funds offers:

  • WisdomTree Bitcoin, focused on investments in the emerging digital currency.
  • WisdomTree Ethereum, invested in companies related to the Ethereum blockchain.
  • WisdomTree Goldman Sachs Blockchain, investing in companies building products on the distributed ledger technology.
  • WisdomTree IBM Blockchain, targeting companies leveraging IBM’s platform.
  • WisdomTree Microsoft Blockchain, focused on the development of the Azure blockchain.

The other four funds fall under the category of ‘global asset allocation’, and are each comprised of stocks and bonds from public companies within the blockchain and cryptocurrency sector.

Commenting on the Approval

WisdomTree Chair and CEO Jonathan Steinberg said:

“By registering these ETFs, the SEC has demonstrated that blockchain technologies have firmly moved beyond proof-of-concept stage, allowing us to take a disciplined approach in something which is truly innovative. We have seen a lot of interest in digital asset ETFs from retail investors, many of whom feel that ETFs provide a suitable, cost-effective way to obtain this exposure.”

This approval marks a major milestone for WisdomTree and for the blockchain world as a whole, as digital assets become increasingly part of the mainstream investment landscape.

Today [DATE], the Securities and Exchange Commission (SEC) approved nine additional funds issued by WisdomTree Investments, a New York-based exchange-traded fund (ETF) sponsor, which are “blockchain-enabled” — a term that generally refers to investment products that offer exposure to a diversified pool of digital assets.

The nine blockchain funds will be based on crypto-currencies such as Bitcoin and Ethereum, as well as an array of new blockchain-based technologies. The approvals will allow WisdomTree Investments to offer investment vehicles similar to traditional ETFs but with a strong focus on blockchain investments.

The SEC’s approval of the new blockchain funds is seen as a significant step forward for the blockchain industry as it is one of the few times that a high-profile financial regulator has been willing to endorse a product that is directly related to the blockchain technology.

The approval is also viewed as a sign of growing acceptance of the blockchain technology, with many industry observers predicting that the approval of these nine funds will pave the way for further investments in the blockchain space, thus helping to bring more institutional investors into the fold.

It is also noteworthy that the approval comes at a time when the cryptocurrency market is experiencing a positive trend. As reported, the total market cap of all crypto-currencies has seen a 16-fold increase since the start of 2017.

While the approval of the nine WisdomTree funds is only one step along the way of mainstream adoption, it is a promising development that could open the door to many more investments and products in the blockchain space.

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