Policy
Share this article

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.

By James Rubin
Updated May 11, 2023, 4:42 p.m. Published Dec 22, 2021, 10:57 p.m. 1 min read
(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

More For You

‘The banks will not accept it’: Dimon escalates battle over stablecoin rewards in CLARITY Act debate

By Helene Braun, AI Boost|Edited by Nikhilesh De
May 29, 2026
Jamie Dimon (John Lamparski/Getty Images)

JPMorgan CEO Jamie Dimon criticized Coinbase CEO Brian Armstrong and warned the current CLARITY Act framework could ultimately fail, as banks and crypto firms clash over whether stablecoin issuers should be allowed to offer yield-bearing rewards that resemble bank deposits.

What to know:

  • JPMorgan Chase CEO Jamie Dimon criticized Coinbase CEO Brian Armstrong and warned that the latest CLARITY Act draft could fail if lawmakers do not address banks’ concerns over stablecoin regulation on Friday.
  • Dimon argued that the bill would let stablecoin issuers effectively pay interest on deposits without bank-style protections, predicting...
Read full story