Switzerland-based asset management firm Pando Asset AG has filed for a spot Bitcoin exchange-traded fund (ETF) with the Securities and Exchange Commission (SEC). The ETF, if approved, would be listed on Nasdaq under the ticker PBC. Pando has partnered with the Bank of New York Mellon (BNY Mellon) as the trust’s administrator and Coinbase as the custodian. Pando acknowledges the competitive risks it faces, including the potential for other applicants to charge lower fees and commercialize their offerings more quickly. Additionally, Pando recognizes the risk of its fund failing to gain sufficient liquidity in secondary markets, which could result in the fund trading at a premium or discount. There are currently over ten pending spot Bitcoin ETF applications with the SEC, including those from BlackRock, Fidelity, and Ark Invest.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Europe
Countries	🇨🇭 🇺🇸
Sentiment	neutral
Relevance Score	1
People	None
Companies	BNY Mellon, BlackRock, Coinbase, Fidelity, Ark Invest, Nasdaq
Currencies	Bitcoin
Securities	BNY Mellon, BlackRock, Coinbase, Fidelity, Ark Invest