RATE Group | Wilshire Phoenix Updates Its Bitcoin ETF Filing With SEC
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Wilshire Phoenix Updates Its Bitcoin ETF Filing With SEC

20 Oct Wilshire Phoenix Updates Its Bitcoin ETF Filing With SEC

Posted at 06:28h in Bitcoin News by

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The United States Securities and Exchange Commission (SEC) has once again begun accepting public comments regarding the updated Bitcoin (BTC) exchange-traded fund (ETF) proposal by Wilshire Phoenix Fund.

According to the official document published on Oct. 15, investment management firm Wilshire Phoenix and exchange NYSE Arca have filed an amendment to their Bitcoin ETF application to reflect new circumstances.

New and updated version

Per the proposal, Coinbase Custody will act as a custodian of the trust’s Bitcoins. But unlike the first application, the updated version states that Coinbase will be confirming the availability of assets used to secure the trust within five business days from the moment of its monthly rebalancing.

In addition, Wilshire draws the SEC’s attention to the fact that when ETFs were approved for gold, the regulator focused on spot and futures markets which have “a meaningful impact on the particular ETP,” although gold is also traded in different market…

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