Wilshire Phoenix Slams SEC for Bitcoin ETF Rejection
The US Securities and Exchange Commission (SEC) adopted amendments to the application for the launch of the Wilshire Phoenix hybrid ETF as a complete replacement for the proposal and restarted the review procedure.
According to the published notification, the countdown started from zero, and the regulator again began collecting comments on the Bitcoin ETF and US Treasury bills at the request of the investment company Wilshire Phoenix, filed through the NYSE Arca.
The adjustments made relate to the issue and repurchase of securities, listing and trading of shares of the fund, and also include some corrections, clarifications and additional description of the procedure for monthly rebalancing of the trust.
After reviewing the amendment form filed on October 4, the SEC decided that it would completely replace and revoke the original proposal. Past collection of comments on this application is relatively recent and completed in August.
So far, the American regulator has not approved a single proposal for the launch of a crypto ETF.
text: Ivan Malichenko, photo: Getty Images, cimg