SEC begins review of Kryptoin’s bid to launch a Bitcoin ETF

The U.S. Securities and Exchange Commission has begun reviewing Kryptoin Investment Advisors’ application to launch an exchange-traded fund (ETF) backed by bitcoin.

In October 2019 Kryptoin filed the initial form with the regulator. In April 2021 the company updated the application. According to the filings, the trading venue is Cboe BZX.

The Kryptoin Bitcoin ETF Trust is designed to provide investors with exposure to bitcoin via a price determined by the CME CF Bitcoin Reference Rate.

Applications for launching a bitcoin ETF at the SEC were filed by VanEck, WisdomTree, NYDIG, Bitwise, Valkyrie Digital Assets, SkyBridge Capital with First Trust Advisors, Fidelity Investments and Galaxy Digital.

Earlier in March 2021, the regulator began reviewing an application from VanEck, and in April from WisdomTree.

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