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
Bitcoin (BTC) is currently navigating a trading range between $60,000 and $73,000, entering what analytics…
Tokyo-listed Metaplanet is expanding beyond holding BTC into funding, incubating, and granting to companies building…
The bridging protocol's team wants to exchange ACX tokens for equity in a new U.S.…
Brent crude surged 10% after attacks on two oil tankers in Iraqi waters, with the…
Bitcoin price failed to extend its recovery wave above the $70,500 zone. BTC is now…
Bitcoin Magazine Coinbase CPO Rejects Claims of Opposing Bitcoin Tax Relief as Jack Dorsey Demands…