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SEC
Policy

SEC Begins Official Review of Kryptoin Bitcoin ETF Application

The U.S. regulator is now weighing three different bitcoin ETF bids.

By Danny Nelson, Nikhilesh De
AccessTimeIconApr 23, 2021 at 2:23 p.m. UTC
Updated Mar 8, 2024 at 4:23 p.m. UTC
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The U.S. Securities and Exchange Commission (SEC) has begun its formal review of Kryptoin’s bitcoin exchange-traded fund application, starting the countdown clock for a decision on the proposal.

  • The SEC published a public notice Thursday announcing it would begin evaluating the Kryptoin Bitcoin ETF Trust, which the investment advisory filed with Cboe BZX Exchange.
  • Kryptoin previously tried and failed to get a bitcoin ETF green light in 2019.
  • This is the third active bitcoin exchange-traded fund application the federal regulator is evaluating, after VanEck and WisdomTree. The regulator has up to 240 days to approve or deny each.
  • At the moment, there are nine active ETF applications before the agency, and Grayscale (a CoinDesk sister company) has announced its intention to convert its GBTC trust to an ETF as well. It’s possible the agency may approve multiple ETFs at once to promote competition and to avoid favoring one company over another.

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Danny Nelson
Danny Nelson

Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.

Follow @realDannyNelson on Twitter
Nikhilesh De
Nikhilesh De

Nikhilesh De is CoinDesk's managing editor for global policy and regulation. He owns marginal amounts of bitcoin and ether.

Follow @nikhileshde on Twitter

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