Law360 (June 15, 2020, 8:31 PM EDT) -- Investment manager Wilshire Phoenix has filed a registration statement with the U.S. Securities and Exchange Commission seeking to sell shares in a bitcoin commodity trust, a few months after its application to launch a bitcoin exchange-traded fund was rejected.
New York-based Wilshire Phoenix Funds LLC filed an S-1 registration filing with the SEC on Friday, outlining that the bitcoin backing the trust will be custodied by Fidelity Digital Assets Services LLP. The bitcoin value underlying the trust's shares will be based on the Chicago Mercantile Exchange Bitcoin Reference Rate.
According to the filing, Richards Layton & Finger PA will assess the...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!