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Kryptoin Renewed Application For Launching Bitcoin ETF

Kryptoin Investment Advisors has updated its application to the SEC to launch an exchange-traded investment fund (ETF) based on the first cryptocurrency.

Kryptoin filed its initial form with the regulator in October 2019. The investment product was led by former World Gold Council (WGC) executive Jason Toussaint, who now leads the firm.

The Kryptoin Bitcoin ETF Trust aims to provide investors with access to Bitcoin using a settlement price based on the Chicago Mercantile Exchange’s CME CF Bitcoin Reference Rate.

Earlier, Kryptoin intended to list the fund’s shares on the NYSE Arca exchange, in the updated application, the proposed trading platform is Cboe BZX.

Digital asset custody services for Bitcoin ETFs will be provided by Gemini. In the previous version, the custodian was not specified.

Previously, VanEck, WisdomTree, NYDIG, Bitwise and Valkyrie Digital Assets submitted applications for the launch of such an investment instrument in the SEC. In March, the regulator began to consider the first of them.

After Canada approved a Bitcoin ETF for the first time in the world and Brazil followed suit, SkyBridge Capital with First Trust Advisors and Fidelity Investments were added to those seeking approval for a Bitcoin exchange-traded fund in the United States.

Recall that SEC Commissioner Hester Pierce said in January that the market is ready to launch an ETF based on the first cryptocurrency.

Morgan Creek CEO Mark Yusko expressed his firm belief that the regulator will eventually approve such funds.

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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