Pando Asset is the latest fund group looking to launch a spot bitcoin ETF in the US.
The Switzerland-based asset manager joins a crowded field of issuers looking to bring to market a type of fund the US Securities and Exchange Commission has never approved.
The company proposed its Pando Asset Spot Bitcoin Trust in a Wednesday filing. The trust’s assets would consist primarily of bitcoin held by its custodian — Coinbase Custody Trust company. The disclosure names BNY Mellon as the trust administrator.
A Pando Asset spokesperson did not immediately return a request for comment.
About a dozen issuers — including traditional finance giants BlackRock, Fidelity and Invesco —…
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