RATE Group | SEC Will Rule on Wilson Phoenix Bitcoin ETF Proposal By Feb. 2020
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SEC Will Rule on Wilson Phoenix Bitcoin ETF Proposal By Feb. 2020

23 Dec SEC Will Rule on Wilson Phoenix Bitcoin ETF Proposal By Feb. 2020

Posted at 13:23h in Bitcoin News by

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The United States Securities and Exchange Commission (SEC) has earmarked a longer period for considering an updated Bitcoin (BTC) and U.S. T-Bills exchange-traded fund (ETF) proposal by Wilshire Phoenix Fund.

In a notice published on Dec. 20, the regulator indicated it would come to a decision on approval or disapproval of the fund by Feb. 26, 2020 — 240 days after the publication of Wilshire Phoenix’s last proposed rule change to its filing.

Fund would have two constituent assets, Bitcoin and U.S. T-Bills

As previously reported, Wilshire Phoenix’s proposal has undergone a typical process of solicitations for public comment, subsequent amendments and proposed rule changes.

The investment firm’s proposal is for a Bitcoin and Treasury Investment Trust, shares for which would be listed and traded on the NYSE Arca exchange. 

The proposed Trust would have two constituent assets: Bitcoin and T-Bills — the latter being short-term U.S. government debt obligations backed by the…

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