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Particle-in-Cell simulations and statistical analysis are carried out to study the dynamic evolution of a collisionless, magnetized plasma with co-existing whistler turbulence and electron temperature anisotropy as the initial condition, and the competing consequences of whistler turbulence cascade and whistler anisotropy instability growth. The results show that the operation of the whistler instability within whistler turbulence has almost no effects on the fluctuating magnetic field energy and intermittency generated by turbulence. However, it leads to a small reduction of the magnetic field wavevector anisotropy and a major reduction of the intermittency of electron temperature anisotropy. Hence, while the overall effect from whistler instability is minor as compared to that of whistler turbulence due to its much smaller field energy, the whistler instability may act as a regulation mechanism for kinetic-range turbulence through wave-particle interactions.