#CryptoCorner Episode 414: Wilshire Phoenix Files for #Bitcoin Commodity Trust- may be looking to compete with Grayscale Investments’ (OTC: $GBTC)
Point Roberts, WA, Delta BC June 15, 2020 - Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market .
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Read this in full at https://www.investorideas.com/news/2020/crypto-corner/06151WilshirePhoenix-GBTC.asp
Stocks discussed: (OTC:GBTC)
The Korea Times reports that South Korea’s central bank, the Bank of Korea (BOK), has launched a legal advisory panel to advise on navigating regulations surrounding the issuance of a central bank digital currency (CBDC). Comprising six experts from finance and IT, the panel will convene today and remain “in operation at least until the end of May 2021,” according to the article. The BOK intends “to finish a pilot test on issuing a digital currency before the end of 2021.” An unnamed BOK official told the Korea Times:
"We established the advisory group to discuss legal issues surrounding a CBDC and figure out which laws need to be revised or enacted for smooth progress in the BOK's possible issuance of digital currency.”
Cointelegraph reports that Paxful, a peer-to-peer Bitcoin (BTC) marketplace, is integrating its platform with crypto exchange giant OKEx. This will enable OKEx users to purchase Bitcoin using 160 fiat currencies, in addition to bank transfers, gift cards, online wallets, and more. Paxful CEO and co-founder Ray Youseff told Cointelegraph:
“The partnership between OKex and Paxful will open up new opportunities for users on both sides and signals that the crypto industry is uniting more and more when possible in order to use each other’s strengths to provide more options for their users.”
He went on to say:
Through this partnership, we can reach more users in developing regions using Paxful’s existing infrastructure and payment options and give them exposure to the benefits of OKEx’s advanced technology and diversified product suite."
Asset manager Wilshire Phoenix has filed to launch a Bitcoin Commodity Trust, according to an SEC filing from June 12. An article from CoinDesk speculates that this trust “may be looking to compete with Grayscale Investments’ [OTC:GBTC] $3.6 billion bitcoin trust,” indicating that the latter “filed to turn its bitcoin trust into an SEC reporting company last year.” Wilshire Phoenix had previously attempted to launch a Bitcoin ETF (exchange-traded fund), but that was rejected by the SEC earlier this year.
Sam Mowers, Investorideas
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