US active Bitcoin ETF application rises to 8

 

Kryptoin Investment Advisors, a financial services company run by Jason Toussaint, filed an application for a Bitcoin ETF with the Securities and Exchange Commission (SEC) on Friday.

This is the second attempt by an asset manager for an ETF or exchange-traded fund. In October 2019, Kryptoin filed an application for the “Kryptoin Bitcoin ETF Trust”, which will be listed on the NYSE Arca. In yesterday's new filing, the listing location was changed to Cboe's BZX Exchange.

Kryptoin's application comes amid intensifying Bitcoin ETF applications. The SEC also announced yesterday that it had begun examining WisdomTree's application for a Bitcoin ETF in March. The SEC is also reviewing an application from VanEck.

US regulators had so far not approved any Bitcoin ETF applications.

There are eight applications pending approval for the Bitcoin ETF, coming from companies such as VanEck, NYDIG and Anthony Scaramucci's SkyBridge Capital. The Winklevoss twins had made their first ETF application in 2013. The tweet below contains a list of all Bitcoin ETF applications:

Bitcoin ETF launched in other countries

Canada and Brazil already have their own Bitcoin ETF, and experts in the crypto field think approval will come soon in the US, too. The CEO of Morgan Creek Capital Management has said he thinks the Bitcoin ETF will be approved.

For now, the most popular in the field of US-based crypto investment products is Grayscale Investments ' Grayscale Bitcoin Trust. With a few key differences, it works like an ETF.

Recently, Grayscale announced plans for a Bitcoin ETF. The company had reported that it was aiming to convert the Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF.