Kryptoin Investment Advisors, a financial services company run by Jason Toussaint, re-submitted a request to the SEC on Friday for approval of the Bitcoin ETF index.
It is Kryptoin's second attempt at submitting an application for approval of a Bitcoin “ETF”.
In October 2019, Kryptoin introduced the Bitcoin ETF, which was to be listed on the NYSE Arca.
While the new deposit was changed to “Cboe's BZX”.
The submission of the "Kryptoin" file coincides with the increase in requests for "ETF" Bitcoin and submitted for consideration by the "SEC".
Consent appears increasingly reasonable, if not likely, by the SEC.
The SEC announced today that it has begun its review of Kryptoin's application for Bitcoin ETF, which the company submitted in March.
The SEC is also reviewing a file from "VanEck".
US regulators have yet to approve a Bitcoin “ETF,” depriving US cryptocurrency traders of a convenient and regulated investment tool for an investment asset known to be volatile.
Currently there are 8 pending requests for "ETF" Bitcoin, they are all waiting for the green signal from the "SEC"
Of these companies submitted to the request for “ETF” Bitcoin with the “SEC”:
VanEck
NYDIG
SkyBridge Capital
The Winklevoss twins were the first to try to list an ETF with a file that has since been abandoned in 2013.
Canada and Brazil already have their own Bitcoin ETFs.
The regulators there previously agreed to list them on the stock exchange for normal trading.
Many cryptocurrency executives are optimistic about the possibility of endorsing a US Bitcoin ETF as well.
At the moment, the best bitcoin mutual fund in the US is the “Grayscale Bitcoin Trust” from the investment company Grayscale.
The “Grayscale” fund works a bit similarly to the Bitcoin ETF, although there are several key differences.
For example, while an ETF works like stocks, Grayscale requires investors to hold stocks for several months.
The Bitcoin “ETF” also holds the original price of the Bitcoin currency.
It is worth noting that the company "Grayscale" also announced its intention to create a suitable "ETF" Bitcoin in the future.