RATE Group | SEC Punts Decision on Wilshire Phoenix’s Bitcoin ETF Proposal to February
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SEC Punts Decision on Wilshire Phoenix’s Bitcoin ETF Proposal to February

21 Dec SEC Punts Decision on Wilshire Phoenix’s Bitcoin ETF Proposal to February

Posted at 20:33h in Bitcoin News by

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The Securities and Exchange Commission (SEC) has postponed making a decision on a bitcoin and U.S. Treasury bond exchange-traded fund (ETF) proposal filed by Wilshire Phoenix.

According to a document published Friday, the SEC will continue evaluating the proposal, which was first filed earlier this summer, setting Feb. 26, 2020 as its next decision date to approve or reject the ETF proposal.

The securities regulator has been loathe to approve any bitcoin ETF, rejecting more than a dozen in the last two years. The agency has pointed to concerns about market manipulation and surveillance sharing as two areas it would like to see bolstered before it would approve an ETF.

Wilshire Phoenix believes it has found a way to address these concerns. In an interview with CoinDesk in November, Wilshire founder and managing partner William Herrmann said the fact that his company’s proposal, filed with NYSE Arca, is a multi-asset trust protects it against bitcoin’s price volatility.

Should…

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