RATE Group | SEC to Decide the Fate of Another Bitcoin ETF Proposal This Week
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SEC to Decide the Fate of Another Bitcoin ETF Proposal This Week

24 Feb SEC to Decide the Fate of Another Bitcoin ETF Proposal This Week

Posted at 19:29h in Bitcoin News by

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The U.S. Securities and Exchange Commission (SEC) is once again poised to approve or reject a bitcoin exchange-traded fund (ETF), when Wilshire Phoenix’s United States Bitcoin and Treasury Investment Trust meets a filing deadline Wednesday.

Wilshire Phoenix is the latest in a long line of companies hoping to secure SEC approval to list shares of a bitcoin-related ETF, and the only one that has an active application before the securities regulator. Such an instrument would allow retail investors to get exposure to the bitcoin market without what some see as the added difficulty of owning bitcoin itself, potentially boosting market participation by individuals wary of bitcoin’s stance as an unregulated investment.

While its chances are slim – the SEC has yet to approve any bitcoin ETF applications for a multitude of stated reasons – the company was filing updates to its proposal as recently as last week in efforts to bolster its application.

Wilshire managing partner William…

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