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.
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
STORY CONTINUES BELOW
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Hong Kong proposes new rules to tap insurance capital into cryptocurrencies
Public consultation on the proposal will occur from February to April 2025, with legislative submissions expected later that year.
What to know:
- Hong Kong is considering new rules to allow insurers to invest in digital assets, potentially boosting institutional crypto adoption in Asia.
- The proposal mandates a 100% risk charge on direct crypto holdings, requiring insurers to reserve a dollar for every dollar invested.
- Public consultation on the proposal will occur from February to April 2025, with legislative submissions expected later that year.
Top Stories
