RATE Group | Wilshire Phoenix Slams SEC for Bitcoin ETF Rejection
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Wilshire Phoenix Slams SEC for Bitcoin ETF Rejection

29 Feb Wilshire Phoenix Slams SEC for Bitcoin ETF Rejection

Posted at 13:27h in Bitcoin News by

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Wilshire Phoenix, a New York-based asset management firm, has responded to the United States Securities and Exchange Commission (SEC) rejecting its proposed Bitcoin (BTC) exchange-traded fund (ETF).

The firm states it is “very disappointed” by the SEC’s ruling, emphasizing that it went to great lengths to ensure compliance with the SEC’s expectations:

“We made every effort to get the SEC’s attention on this important issue, including undertaking extensive analysis that was made available to the SEC staff, submitting key data, and offering to provide additional information to facilitate the listing of a much needed regulated bitcoin-related ETP in the United States. Unfortunately, the Order shows that all of these efforts did not receive the SEC’s full attention.”

SEC ruling maintains threats to US investors

Wilshire Phoenix filed its proposed ‘United States Bitcoin and Treasury Investment Trust’ with the SEC during January 2019. The firm described the fund as…

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