Swiss asset manager Pando Asset has joined the race for a spot bitcoin exchange-traded fund (ETF) in the United States. Pando Asset, which already offers crypto ETF products in Europe, has filed an S-1 form with the US Securities and Exchange Commission (SEC) seeking approval for its ETF. The company plans to trade its Pando Asset Spot Bitcoin Trust on the Cboe BZX Exchange, with Coinbase serving as its custodian. Meanwhile, BlackRock, the first asset manager to apply for a spot bitcoin ETF, has met with the SEC to discuss revisions to its application. BlackRock has made several amendments to address the SEC’s concerns, including proposing changes to its redemption model. The SEC had raised issues regarding balance sheet impacts and risks associated with US broker-dealer dealings with offshore cryptocurrency entities. The industry eagerly awaits the approval of the first spot bitcoin ETF in the US, with multiple firms, including ARK Invest and Fidelity, also vying for approval.

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Information	Details
Geography	Europe
Countries	🇨🇭 🇺🇸
Sentiment	neutral
Relevance Score	1
People	Eric Balchunas
Companies	SEC, BlackRock, Coinbase, Pando Asset, Cboe BZE Exchange
Currencies	Bitcoin, US Dollar, SIX Network, cboe bze
Securities	None