SEC announced the start of proceedings on crypto-related ETF
NEWS
September 25  |  2 min read

SEC Starts Proceedings on Wilshire Phoenix Bitcoin ETF

The COIN360 Editorial Team

The U.S. Securities and Exchange Commission (SEC) has announced the start of proceedings designated to determine whether it will approve a proposed bitcoin exchange-traded fund (ETF). The amendment to the existing rule, if approved, would allow NYSE Arca to list and trade shares of Wilshire Phoenix’s Bitcoin and Treasury Investment Trust.

The Commission requests that interested persons provide written submissions of their views, data and arguments, as well as any other concerns they may have with the proposal:

“Interested persons are invited to submit written data, views, and arguments regarding whether the proposal should be approved or disapproved.”

This is not the first invite from the regulator addressed to “interested persons.” SEC started to accept written comments this June, but has thus far received only six responses according to media sources.

Another request to approve crypto-related ETF by Bitwise Asset Management faces a deadline in the middle of October.