Share this article
WisdomTree Proposes ETF With 5% Bitcoin Exposure Despite SEC's Long-Standing Blockade
WisdomTree is seeking to launch an exchange-traded fund that invests in part in the growing bitcoin futures market.
By Danny Nelson
Updated Sep 14, 2021, 8:52 a.m. Published Jun 16, 2020, 10:15 p.m.
Make us preferred on Google
WisdomTree Trust is seeking to launch an exchange-traded fund (ETF) that invests in part in the growing bitcoin futures market.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The New York City-based asset manager filed on Tuesday for an ETF that may invest up to 5% of its net assets in the Chicago Mercantile Exchange’s (CME) bitcoin futures contracts, as shown in documents published by the U.S. Securities and Exchange Commission.
Multiple attempts at launching a pure-bitcoin ETF by different companies in the past have met with failure, as have attempts at launching an ETF that invested in bitcoin and Treasury bonds. In various rejections, the SEC has taken issue with the size of the bitcoin market, the potential it is being manipulated, questions around ensuring custody of bitcoin and a lack of surveillance sharing agreements between a sizable bitcoin market and a regulated exchange.
If approved, the “WisdomTree Enhanced Commodity Strategy Fund" would invest the rest of its net assets in energy, industrial metals, precious metals and agriculture commodities, meaning bitcoin would be only a tiny slice of the total pie.
But it is a telling sign. The market for CME’s cash-settled bitcoin futures contracts has been steadily growing over the last few months. May saw multiple record-setting days for open interest on CME, a spike that coincided with heightened interest in bitcoin futures from institutional investors like Paul Tudor Jones. WisdomTree spokespersons did not respond to CoinDesk requests by press time.
The move casts bitcoin as a perhaps normalized investment opportunity for a fund that more generally seeks exposure to commodity markets at large. Commodity market movements do not directly correlate with indices, though some argue that bitcoin, which is traded as a commodity, follows the market.
WisdomTree is no stranger to cryptocurrencies. Corporate Strategy Director William Peck previously told CoinDesk he views digital assets as a natural extension of the WisdomTree business model. The $63 billion asset manager has explored launching a regulated stablecoin on the U.S. market, and last year issued a bitcoin exchange-traded product on Switzerland’s SIX stock exchange.
WisdomTree Enhanced Commodity Strategy Fund appears to be the firm’s first foray into bitcoin products in the U.S.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Key bitcoin price levels to watch as downward pressure builds
As bitcoin remains in a downtrend, several technical and onchain levels stand out as critical areas of support.
What to know:
- The 100-week moving average at $87,145 remains the main line of defense.
- Below this, the cost basis of U.S. spot bitcoin ETF buyers at $84,099 has provided support during recent consolidation.
- A sustained break below $80,000 would likely open the door to a revisit of the April 2025 low near $76,000.
Top Stories
