RATE Group | The SEC Has Rejected Every Bitcoin ETF. This Firm Thinks It Has a Solution
67911
wp-singular,post-template-default,single,single-post,postid-67911,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

The SEC Has Rejected Every Bitcoin ETF. This Firm Thinks It Has a Solution

08 Nov The SEC Has Rejected Every Bitcoin ETF. This Firm Thinks It Has a Solution

Posted at 03:58h in Bitcoin News by

[ad_1]

One company thinks it knows how to get a bitcoin exchange-traded fund (ETF) approved by U.S. regulators.

Wilshire Phoenix, a relatively young financial firm in New York, filed to launch the United States Bitcoin & Treasury Investment Trust ETF in May with NYSE Arca. At that point, a dozen bitcoin ETF proposals had already been swatted down by the U.S. Securities and Exchange Commission (SEC) – including nine in one day. But unlike other ETF applications, Wilshire Phoenix’s ETF will invest in both bitcoin and U.S. Treasury securities, commonly referred to as T-bills.

The SEC is currently reviewing the application.

“Our proposed bitcoin-related ETF is quite different from those that have previously been submitted to the Commission for approval,” Wilshire Phoenix founder and managing partner William Herrmann said in a phone interview. “To name just a few distinctions, the composition of the Trust is very different. Our Trust is a multi-asset trust (bitcoin and…

[ad_2]

Source link

Tags:
, , , , , ,