Delaware-based asset manager Kryptoin Investment Advisors applied with the United States Securities and Exchange Commission (SEC) to launch a Bitcoin (BTC) Exchange Traded Fund (ETF) on Oct. 15. A Bitcoin ETF on the New York Stock Exchange According to the filing document published by the SEC, the Kryptoin Bitcoin ETF Trust is meant to be traded on the New York Stock Exchange Arca. Notably, the ETF product is designed: “[...] To provide exposure to bitcoin at a price that is reflective of the actual bitcoin market where investors can purchase and sell Bitcoin, less the expenses of the Trust’s operations.” …

The United States Securities and Exchange Commission (SEC) has once again begun accepting public comments regarding the updated Bitcoin (BTC) exchange-traded fund (ETF) proposal by Wilshire Phoenix Fund. According to the official document published on Oct. 15, investment management firm Wilshire Phoenix and exchange NYSE Arca have filed an amendment to their Bitcoin ETF application to reflect new circumstances. New and updated version Per the proposal, Coinbase Custody will act as a custodian of the trust’s Bitcoins. But unlike the first application, the updated version states that Coinbase will be confirming the availability of assets used to secure the trust …

Bitwise Asset Management and NYSE Arca have confirmed they will refile their application for a Bitcoin (BTC) exchange-traded fund (ETF) after United States regulators rejected it. Bitwise: We intend to refile According to a news release published on Oct. 9, the companies said that while the U.S. Securities and Exchange Commission (SEC) refused their ETF application, they were upbeat about their progress. The verdict on Bitwise’s ETF proposal had seen multiple delays prior to this week’s final decision, which the SEC had no choice but to make, according to statutory rules. The news release states: “We deeply appreciate the SEC's …

Executives at Bitwise Asset Management are highly optimistic as the deadline for the United States Securities and Exchange Commission’s (SEC) decision on their proposed Bitcoin (BTC) exchange-traded fund (ETF) looms. Days ahead of the Oct. 13 deadline, an Oct. 7 CNBC report cites Matt Hougan, managing director and global head of research at Bitwise, saying: “We’re closer than we’ve ever been before to getting a Bitcoin ETF approved.” “No more ways to postpone it at this point” As Cointelegraph reported, Bitwise filed its latest application for a physically held Bitcoin ETF with the SEC in January. In August, the regulator …

The United States Securities and Exchange Commission (SEC) has initiated proceedings regarding the Wilshire Phoenix Bitcoin (BTC) exchange-traded fund (ETF) proposal. According to a Sept. 24 public filing, the SEC started proceedings to determine whether to approve or disapprove the proposed rule change, which would allow NYSE Arca to list and trade shares of Wilshire Phoenix’s Bitcoin and Treasury Investment Trust. Public comments In Tuesday's filing, the SEC notes that it had invited the public to share its comments, which were due 21 days from when the order was published in the Federal Register on July 1. Rebuttals to those …

On Sept. 17, the Chicago Board Options Exchange’s BZX Equity Exchange withdrew its VanEck/SolidX Bitcoin exchange-traded fund (ETF) proposal a month ahead of the review deadline. The United States Securities and Exchange Commission (SEC) — the regulator on the matter — had until Oct. 18 to greenlight or reject the financial product. As a result, the race for the first Bitcoin (BTC) ETF seems to be postponed once again. While the SEC is still reviewing two other proposals of this kind, the VanEck/SolidX Bitcoin ETF was generally perceived as the strongest contestant to get regulatory permission and debut this investment …

Crypto index fund provider Bitwise Asset Management has given another presentation to the United States Securities and Exchange Commission (SEC) in its bid for regulatory approval of its proposed Bitcoin exchange-traded fund (ETF). In a memorandum, issued Sept. 17, the SEC published Bitwise’s presentation outlining why it believes the regulator's concerns have been largely addressed. Bitcoin spot market now more efficient The presentation started by recapping how the market has evolved and improved over the past two years. Firstly, the spot market has become more efficient, with the average deviation of Bitcoin prices across the top 10 exchanges falling. Although …

United States Securities and Exchange Commission (SEC) Chairman Jay Clayton has said Bitcoin (BTC) needs stronger regulation in order to be traded on a major exchange. Consider the Nasdaq CNBC reported on Sept. 19 that Clayton made his remarks at the Delivering Alpha conference. Warning investors to be wary, he added: “If [investors] think there’s the same rigor around that price discovery as there is on the Nasdaq or New York Stock Exchange... They are sorely mistaken. [...] We have to get to a place where we can be confident that trading is better regulated.” Bitcoin not traded on major …

Over the course of the past few weeks, the global cryptocurrency community bore witness to two major announcements related to stablecoins — with the first being the launch of Paxos’s gold-backed Ethereum token, PAX Gold (PAXG), and the other being the release of Binance’s cryptocoin backed by the United States dollar (BUSD). Paxos, a global digital asset trust firm, announced the launch of its PAXG token via a press release a few days back. In the document, the firm claims that its product is the world’s first crypto asset to be fully redeemable in exchange for physical gold. Not only …

The Chicago Board Options Exchange’s (CBOE) BZX Equity Exchange has withdrawn its proposal before the U.S Securities and Exchange Commission (SEC) VanEck/SolidX Bitcoin (BTC) exchange-traded fund (ETF). SEC faced Oct. 18 deadline On Sept. 17, the SEC published a notice that the CBOE had withdrawn its application for the VanEck/SolidX Bitcoin ETF on Sept.13. Although no reason was given, the decision to withdraw the proposal came just weeks after the firm began offering a limited Bitcoin ETF for institutions. The SEC had already delayed a decision on the matter, but was facing a final deadline of Oct. 18 to determine …

Bank of New York Mellon has been appointed to serve as transfer agent and administrator of Bitwise Asset Management’s proposed Bitcoin (BTC) exchange-traded fund (ETF). Bitwise amended the S-1 form that it submitted to the United States Securities and Exchange Commission (SEC) on Sept. 11. The amendment also lists major accounting firm Cohen & Company as auditor, while Boston-based legal firm Foreside Fund Services is listed as the Bitcoin ETF’s marketing agent. Whether any of the aforementioned firms will act in their appointed regard depends on an eventual decision to allow the listing by U.S. financial regulators. The long road …

The CEO of investment management firm VanEck Associates, Jan Van Eck, said that the company is now offering a type financial product with exposure to Bitcoin (BTC). In an interview with CNBC on Sept. 11, Van Eck said that the product offered by the firm is a broker-traded fund and is currently not available to the public, but to institutional investors only. Van Eck further specified that it will trade over-the-counter and will not trade on a national securities exchange. The broker-traded fund is called VanEck SolidX Bitcoin Trust 144A Shares. Caveats to get exposure to Bitcoin Qualified investors that …