The founder of investment firm Wilshire Phoenix, William Herrmann, said his firm’s recently filed U.S. Bitcoin fund notably differs from anything else currently on the U.S. market, based on its Bitcoin price sourcing and involved third parties. In an email exchange with Cointelegraph, Herrmann didn't mention Grayscale's Bitcoin Trust by name, but Grayscale is the most well-known U.S. product in the space.
"The digital asset market has obviously experienced exponential growth, but the products currently in the space have not evolved with such growth," Herrmann told Cointelegraph. "We think investors deserve more."