📄 Wilshire Phoenix has updated its BTC fund prospectus for the first time since August 2021, as noted by Bloomberg analyst James Seyffart. The structure of this fund is anticipated to resemble GBTC's current structure, with the likelihood of it being traded over-the-counter and carrying a premium or discount. Eric Balchunas, another analyst, expressed surprise at the move, questioning the timing of launching an over-the-counter private trust just before the potential approval of a BTC spot ETF. 🤷‍♂️💼 #CryptoFundUpdateCritique