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SEC Begins Official Review of Kryptoin Bitcoin ETF Application
The U.S. regulator is now weighing three different bitcoin ETF bids.
The U.S. Securities and Exchange Commission (SEC) has begun its formal review of Kryptoin’s bitcoin exchange-traded fund application, starting the countdown clock for a decision on the proposal.
- The SEC published a public notice Thursday announcing it would begin evaluating the Kryptoin Bitcoin ETF Trust, which the investment advisory filed with Cboe BZX Exchange.
- Kryptoin previously tried and failed to get a bitcoin ETF green light in 2019.
- This is the third active bitcoin exchange-traded fund application the federal regulator is evaluating, after VanEck and WisdomTree. The regulator has up to 240 days to approve or deny each.
- At the moment, there are nine active ETF applications before the agency, and Grayscale (a CoinDesk sister company) has announced its intention to convert its GBTC trust to an ETF as well. It’s possible the agency may approve multiple ETFs at once to promote competition and to avoid favoring one company over another.
Read more: SEC Begins Review of WisdomTree Bitcoin ETF as Active Applications Hit 8
STORY CONTINUES BELOW
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
Nikhilesh De
Nikhilesh De is CoinDesk's managing editor for global policy and regulation, covering regulators, lawmakers and institutions. When he's not reporting on digital assets and policy, he can be found admiring Amtrak or building LEGO trains. He owns < $50 in BTC and < $20 in ETH. He was named the Association of Cryptocurrency Journalists and Researchers' Journalist of the Year in 2020.
