The Securities and Exchange Commission of the U.S. has started public comment period for proposed exchange-traded fund (ETF) backed by Bitcoin and Treasury Bills.
SEC is seeking for a public comment on Wilshire Phoenix and NYSE Arca rules changes last month that would allow Wilshire Phoenix Funds to list shares of the ETF on the NYSE Arca Exchange.
Wilshire Phoenix and NYSE Arco hopes to offer shares in the United States Bitcoin and Treasury Investment trust as well has allowing a fund manager to oversee the rust, investing exclusively in Bitcoin and short-term U.S. Treasury securities.
It also revealed that the company will make use of Coinbase’s custody wing to hold the trust’s Bitcoin which is purportedly has $200 million in theft insurance.
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