Asset manager Kryptoin Investment Advisors has filed a new application with the US Securities and Exchange Commission (SEC) to launch a Bitcoin exchange traded fund (ETF).
This is not the first application to the SEC from Kryptoin – a similar document was submitted to the Commission at the end of 2019. At the same time, if in the old application it was assumed that the shares of the trust “Kryptoin Bitcoin ETF” would be traded on the NYSE Arca platform, then in the new document the BZX of the Chicago Board Options Exchange (CBOE) was chosen as the platform.
The exchange-traded fund share price will be calculated based on the CF Bitcoin USD Settlement Price index. The application also states that “the trust will hold bitcoins, handle all creations and redemptions in kind, and management fees will be charged exclusively in bitcoins.”
Note that in March, the application for the launch of an ETF on Bitcoin was submitted by WisdomTree. She also selected CBOE BZX to list her fund’s shares. At the moment, the SEC has already registered 7 active applications for the launch of exchange-traded funds for bitcoin. At the same time, earlier this year, the Canadian regulator approved the launch of several cryptocurrency exchange-traded funds at once.
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