SEC Restarts Clock on Proposed ‘Bitcoin and T-Bills’ ETF
Members of the public have another 21 days to send the SEC comments on a proposed ETF backed by bitcoin and Treasury bonds.
The U.S. Securities and Exchange Commission (SEC) rejected Wilshire Phoenix's bid for a bitcoin-based exchange-traded fund (ETF).
The SEC is poised to rule on another bitcoin ETF application this week. Wilshire Phoenix is hoping its novel fund structure might help it succeed where others have not.
Wilshire Phoenix has filed to launch a bitcoin trust in hopes of making the cryptocurrency more accessible to investors.
The SEC will approve or reject Wilshire Phoenix's bitcoin and U.S. Treasury ETF proposal next year.
Wilshire Phoenix believes balancing funds between BTC and T-bills may convince the SEC that its bitcoin ETF proposal is better than the rest.