Kryptoin Bitcoin ETF Being Reviewed By SEC.

Kryptoin Bitcoin ETF Being Reviewed By SEC.

2021-04-23 | Eddy Morgan

Kryptoin Bitcoin ETF Being Reviewed By SEC.

The United States SEC [Securities and Exchange Commission] has begun its formal review of Kryptoin’ Bitcoin [BTC, -8.28%] ETF [Exchange-traded Fund] application, starting the countdown clock for a choice on the proposal. The SEC outlined a public notice earlier on Thursday announcing that it might begin evaluating the Kryptoin Bitcoin ETF Trust, which the investment advisory filed with Cboe BZX Exchange. Kryptoin earlier tried but was not granted a bitcoin ETF green light in 2019. This is the third active bitcoin exchange-traded fund application the federal regulator is evaluating, after VanEck as well as WisdomTree. The regulator has up to 240 days to approve or deny each filed application. At the instant, there are 9 active ETF applications before the agency, and Grayscale has also announced its intention to convert its GBTC trust to an ETF. It’s possible the agency might approve multiple ETFs directly to market competition and to avoid favoring one company over another.

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