US SEC delays determination on Wilshire Phoenix ETF once again

Posted 26 September, 2019

The US financial regulator – Securities and Exchange Commission – announced its decision regarding the ETF application filed by Wilshire Phoenix. The document was unveiled on the authority's website early this week.

According to the released report, the regulator has not made a final determination on the application for another 35 days and started evaluating the proposal of rule change submitted by NYSE Arca. In particular, the proposed rule change will enable the company to list shares of Bitcoin and Treasury Investment Trust.

SEC is collecting comments from the interested parties on these rule changes. As a result, the regulator has not made a final 

"The Commission asks that commenters address the sufficiency of the Exchange’s statements in support of the proposal, which are set forth in the Notice,17 in addition to any other comments they may wish to submit about the proposed rule change," the document reads. 

Wilshire Phoenix and NYSE Arca filed an ETF application back in May. The ETF was said to be based on bitcion and US Treasury bonds.

The process of collecting public comments was launched in June. In August, SEC postponed determination on this issue till end September.

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