WisdomTree, Invesco join BlackRock in spot Bitcoin ETF frenzy, AltSignals hits $1M milestone

• BlackRock, WisdomTree, Invesco have filed for spot Bitcoin ETFs and Fidelity Investments is also reported to be considering an application.
• The news has catalysed crypto market’s latest bounce, with Bitcoin (BTC) hitting $29k.
• Meanwhile, the AltSignals presale is nearly 94% sold out in stage 1, and is set to hit the targeted $1.08 million mark.

Crypto news today is headlined by reports of renewed interest in the Bitcoin (BTC) asset class, particularly by major US-based companies. These include asset managers WisdomTree and Invesco, who have joined the world’s largest asset management firm BlackRock in filing for a spot Bitcoin ETF.

Amid the potential influx of institutional investor interest, the cryptocurrency market’s bounce this week – which saw Bitcoin price retest $29,000 again – has investors also looking at AltSignals (ASI), a trading signals company whose presale is about to hit a major milestone.

BlackRock sparks spot Bitcoin ETF frenzy

While the SEC has denied all previous rule change proposals for a spot Bitcoin ETF, the spate of filings coming in hot and fast has the market buzzing. Global investment asset giant BlackRock, a $9 trillion in asset under management firm, filed for its spot Bitcoin exchange traded fund on June 15.

The filing looks to address one of the sticking points that has reportedly seen the US Securities and Exchange (SEC) reject all previous proposals – the issue of price manipulation. In its application, BlackRock cites a “surveillance agreement” with top markets platforms the Chicago Mercantile Exchange (CME).

WisdomTree, a US-based investment fund with over $83 billion in assets under management that had two previous ETF propoals denied by the SEC, is hoping to join BlackRock in persuading the securities regulator to allow the first physically-backed bitcoin ETFs in the US market. 

SEC documents show WisdomTree filed for its WisdomTree Bitcoin Trust (BTCW) on June 20 and seeks to list the ETF on the Cboe BZX exchange.

Another asset manager seeking the SEC’s seal of approval is Invesco, which has reactivated its 19b-4 document for the listing of a spot ETF. Like WisdomTree, the firm plans to list the Invesco Galaxy Bitcoin ETF on the Cboe BZX exchange.

Also reported to eyeing the spot Bitcoin ETF bandwagon is Fidelity Investments, which as highlighted here, is among the Wall Street…