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The U.S. Securities and Exchange Commission (SEC) rejected investment firm Kryptoin’s proposal for a spot Bitcoin (
$66,654.00 ) 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 ( $66,654.00 ) ETF.
- It was also not unexpected, as SEC Chair Gary Gensler has indicated his preference for a Bitcoin ( $66,654.00 ) futures ETF over an ETF that holds Bitcoin ( $66,654.00 ) itself.
- Two Bitcoin ( $66,654.00 ) futures ETFs, the ProShares Bitcoin ( $66,654.00 ) Strategy ETF (BITO) and the Valkyrie Bitcoin ( $66,654.00 ) Strategy ETF (BTF), began trading in October.
- The SEC first began officially evaluating the Kryptoin application in April.
- Bitcoin ( $66,654.00 ) ’s price was down slightly in Wednesday afternoon trading.
Read more: SEC Delays Decision on 4 Bitcoin ( $66,654.00 ) ETFs
$1,937.04 ) Blockchain News
