NYSE Arca files with U.S. SEC to list shares in the United States Bitcoin and Treasury Investment Trust

The Securities and Exchange Commission (SEC) has received a filing from the New York Stock Exchange Arca asking it to “amend” a rule so the exchange could list shares in the proposed United States Bitcoin and Treasury Investment Trust.

According to the filing, “The Exchange proposes to (1) amend NYSE Arca Rule 8.201-E (Commodity-based Trust Shares) to provide for issuance and redemption of such securities for the underlying commodity and/or cash, and (2) list and trade shares (Shares) of the United States Bitcoin and Treasury Investment Trust (the ‘Trust’) under NYSE Arca Rule 8.201-E, which governs the listing and trading of commodity-based Trust Shares.”

The trust will be managed by Wilshire Phoenix Funds. Coinbase will be responsible for the custody of the cryptocurrencies, and it has helped secure $200 million in fidelity insurance to mitigate risks such as theft of funds.

The trust will be used for bitcoin and short-term U.S. Treasury securities investments only.