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Wisdomtree has filed for a commodity fund with 5% exposure to bitcoin, in a fresh attempt to bring an exchange-traded fund (ETF) backed by the benchmark cryptocurrency to the market.According to a filing with the U.S. Securities and Exchange Commission (SEC), the fund is targeting to invest mainly in
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WisdomTree Trust is seeking to launch an exchange-traded fund (ETF) that invests in part in the growing bitcoin futures market. The New York City-based asset manager filed on Tuesday for an ETF that may invest up to 5% of its net assets in the Chicago Mercantile Exchange’s (CME) bitcoin futures contracts,
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For years, crypto financial services firms across the U.S. have been trying their hand at launching publicly-traded Bitcoin funds (ETFs). Unfortunately for these hopefuls, the U.S. Securities and Exchange Commission (SEC) has long not agreed with these firms’ assertions that the cryptocurrency market is ready for its own regulated, tradable fund. This
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Securities and Exchange Commissioner (SEC) Commissioner Hester Peirce has published a dissenting statement in response to the Commission’s rejection of Wilshire Phoenix’s Bitcoin Exchange Traded Fund application. In her statement, Peirce slams the SEC for its biased treatment of Bitcoin-related products with the passion of a “Bitcoin maximalist.” Given that
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Wilshire Phoenix, a New York-based asset management firm, has responded to the United States Securities and Exchange Commission (SEC) rejecting its proposed Bitcoin (BTC) exchange-traded fund (ETF).The firm states it is “very disappointed” by the SEC’s ruling, emphasizing that it went to great lengths to ensure compliance with the
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Following the recent rejection of another Bitcoin ETF proposal by the U.S. Securities and Exchange Commission (SEC), one of SEC’s Commissioners, Hester Peirce, has criticized the agency’s decision. According to Peirce, the SEC’s rejection indicated that the chance of getting a bitcoin ETF approval was almost impossible and the securities
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The US Securities and Exchange Commision has rejected New York based firm Wilshire Phoenix’s Bitcoin Exchange Traded Fund (ETF) application, citing ongoing concerns over market manipulation and a lack of surveillance-sharing agreements.Commissioner Hester ‘Crypto Mom’ Peirce has publicly disagreed with the rejection.NYSE Arca had submitted a proposed rule change
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The U.S. Securities and Exchange Commission (SEC) rejected Wilshire Phoenix's bid for a bitcoin-based exchange-traded fund (ETF).In a filing posted Wednesday, the securities regulator wrote that the New York-based Wilshire Phoenix had not proven the bitcoin market is sufficiently resistant to market manipulation. Wilshire, a newcomer to the financial services
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Daily trade volume for Chicago Mercantile Exchange (CME)’s bitcoin (BTC) futures produced a new low for 2020 on Feb. 21, with $118 million worth of contracts changing hands on Friday.The record low came just three days after CME daily volume exceeded $1 billion for just the third time in
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The U.S. Securities and Exchange Commission (SEC) is once again poised to approve or reject a bitcoin exchange-traded fund (ETF), when Wilshire Phoenix’s United States Bitcoin and Treasury Investment Trust meets a filing deadline Wednesday.Wilshire Phoenix is the latest in a long line of companies hoping to secure SEC approval
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