Categories: Uncategorized

SEC Rejects Kryptoin Spot Bitcoin ETF Proposal

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

Read MoreCoinDesk

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

Recent Posts

The Joule Paradox: Energy sets the value of bitcoin and bitcoin sets the value of energy

Early in our thinking about the interaction between bitcoin and energy it became obvious to…

1 hour ago

Did Hawk Tuah Crypto Debacle Eclipse Bitcoin’s $100K Moment?

One bitcoin is worth $100,000 — a milestone that has <a href="https://www.coindesk.com/business/2024/12/05/bitcoin-at-100-k-industry-reaction" target="_blank">crypto OGs in…

2 hours ago

Crypto Daybook Americas: It’s Glass Half Full Despite Record Short Bitcoin ETF Volume

By Omkar Godbole (All times ET unless indicated otherwise) You know how it feels when…

5 hours ago

Has Bitcoin Reached Its Cycle Top? Insights From Leading Analysts

Bitcoin experienced extreme volatility yesterday after reaching a new all-time high of $104,088 on Wednesday.…

5 hours ago

Ethereum To Pull A BTC 2021-Like Rally? Analyst Shares Massive Prediction

As Bitcoin finally soars above the long-awaited $100,000 milestone, Ethereum (ETH) attempts to break out…

8 hours ago

U.S. Ether ETFs Post Record Inflows, Bitcoin ETFs Add Most in Two Weeks

Net inflows into U.S. spot ether (<a href="https://www.coindesk.com/price/ethereum/ " target="_blank">ETH</a>) exchange-traded funds (ETFs) have picked…

9 hours ago