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Wilshire Phoenix Co-Founder: Bitcoin ETF Is Unlikely To Happen This Year Or Next
Summary: William Cai, the co-founder of Wilshire Phoenix, a New York-based financial services company, predicted in an interview with ETF.com that Bitcoin ETFs will eventually appear in the United States, but this is unlikely to happen this year or next. According to the report, Wilshire Phoenix's Bitcoin ETF proposal, which was submitted in cooperation with NYSE ...
William Cai, the co-founder of Wilshire Phoenix, a New York-based financial services company, predicted in an interview with ETF.com that Bitcoin ETFs will eventually appear in the United States, but this is unlikely to happen this year or next.
According to the report, Wilshire Phoenix's Bitcoin ETF proposal, which was submitted in cooperation with NYSE Arca in June 2019, was rejected by the SEC on the grounds of fear of market manipulation in February 2020.
Cai said that the wShares Bitcoin Commodity Trust Fund, an over-the-counter Bitcoin product with an expense ratio of 0.90% launched by the company, can better meet current investor demand for products that are transparent and closely reflect the fair value of Bitcoin.
By Mary Liu
Tags: Bitcoin ETF,SEC,William Cai,Wilshire Phoenix
Link: Wilshire Phoenix Co-Founder: Bitcoin ETF Is Unlikely To Happen This Year Or Next [Copy]
