In a December 5 post by Bloomberg Intelligence analyst James Seyffart, Swiss asset manager Pando was announced as an official participant in the competition for a US spot Bitcoin ETF, filing a 19b-4 via of the Chicago Board Options Exchange (CBOE).
According to Seyffart, the new presentation brings the number of potential issuers to 13.
Better late than never
The announcement, via the SIX Swiss Exchange.
Pando’s 19b-4 filing comes a week after the announcement of its initial Form S-1 filing, which registered securities with the agency for the Pando Asset Spot Bitcoin Trust.
The proposed ETF involves Bank of New York Mellon acting as manager of the Pando Asset Spot Bitcoin Trust. However, it is worth noting that Pando is not registered with the SEC as an investment company.
Driving a cryptocurrency rally
Although no Bitcoin spot ETF has been approved, positive updates on a possible approval have sparked investor enthusiasm.
Bitcoin (BTC) may surpass $40,000 amid anticipation of the SEC’s upcoming decision on spot ETF approval. The figures show a change in market sentiment, as the world’s largest cryptocurrency by market capitalization has not reached this level since April 2022, before the collapse of Terra and other prominent crypto projects.
