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SEC Rejects Kryptoin Spot Bitcoin ETF Proposal

The decision comes about five weeks after the agency rejected VanEck’s application for a spot bitcoin ETF.

Автор James Rubin
Оновлено 11 трав. 2023 р., 4:42 пп Опубліковано 22 груд. 2021 р., 10:57 пп 1 min readПерекладено AI
(Andrew Harrer/Bloomberg via Getty Images)
(Andrew Harrer/Bloomberg via Getty Images)

The U.S. Securities and Exchange Commission (SEC) rejected investment firm Kryptoin’s proposal for a spot bitcoin exchange-traded fund (ETF) in a letter on Wednesday.

  • The decision comes roughly five weeks after the agency had rejected VanEck’s application for a spot bitcoin ETF.
  • It was also not unexpected because SEC Chair Gary Gensler has stated his preference for a bitcoin futures ETF over an ETF that holds bitcoin itself.
  • Two bitcoin futures ETFs, the ProShares Bitcoin Strategy ETF (BITO) and the Valkyrie Bitcoin Strategy ETF (BTF), began trading in October.
  • The SEC began officially evaluating the Kryptoin application in April.
  • Bitcoin’s price was down slightly in Wednesday afternoon trading.

Read more: SEC Delays Decision on 4 Bitcoin ETFs

SECBitcoin ETF

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