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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.

Von James Rubin
Aktualisiert 11. Mai 2023, 4:42 p.m. Veröffentlicht 22. Dez. 2021, 10:57 p.m. 1 min readÜbersetzt von KI
(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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  • Indonesia blocked the crypto prediction market Polymarket, classifying it as illegal online gambling under local law.
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