Wilshire Phoenix's New Bitcoin Trust Filing

Big news, guys! Wilshire Phoenix just filed a FORM S-1 REGISTRATION STATEMENT with the SEC. Wonder if this will actually get approved. If it does, it could shake things up a bit in the market. Could this be a serious challenger to Grayscale's Bitcoin Trust? Let's see what happens...

For sure looks like they're taking a page from Grayscale's playbook. Shares are gonna trade on the OTC market, so it's not an ETF, right? The kicker is that they’re cutting Grayscale’s fees by over 50%. Also, Fidelity Digital Asset Services is gonna handle their bitcoin custody. That’s kind of a big deal since they just got a trust charter in New York. Wall Street's definitely stepping into crypto.