SEC now accepting comments on proposed ETF backed by Bitcoin and US T-bills

posted 11 months ago
The US Securities and Exchange Commission began accepting comments from the public for a proposed ETF backed by Bitcoin and T-bills. The SEC published the proposed rule change which would allow Wilshire Phoenix Funds to list ETF shares on NYSE Arca exchange.

The fund manager would oversee the trust, investing exclusively in Bitcoin and short-term US Treasury securities. The firm would use Coinbase’s custody wing to hold the trust’s Bitcoin, with $200 million in theft insurance covering its holdings.
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