Bloomberg analyst James Seyffart tweeted that according to a public document, Wilshire Phoenix has submitted the 11th revised Bitcoin Fund (wShares Bitcoin Fund) prospectus (S-1 document) to the US SEC. The fund will charge a 0.75% fee and Fidelity will serve as its Bitcoin custodian. Analysts said that the fund structure may be similar to Grayscale GBTC’s current structure, but it is not certain. Funds will trade in the over-the-counter market (OTC) at a premium or discount.

