The case with Bitcoin ETFs is open for quite a long period of time. However, the U.S. Securities and Exchange Commission sees to not be ready to approve any of them.
The SEC has opened a 21-day public comment period for a proposed ETF backed by Bitcoin and Treasury bills. To be more specific, the Commission published a rule change proposal that would allow Wilshire Phoenix Funds to list shares of the ETF on the NYSE Arca exchange. The document is also to be published in the Federal Register.
The company Wilshire Phoenix and crypto exchange applied for the rule change in the past month with the hope to offer shares in the United States Bitcoin and Treasury Investment Trust.
According to the US law, the SEC has 45 days from the filing’s publication in the Federal Register to make an initial decision, though it can extend this to 90 days.
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