Last Updated: April 28, 2021
The SEC, or Securities and Exchange Commission based in the U.S., started a review of Kryptoin’s fund application for Bitcoin, as it decides whether to give it the green light or not. The investment advisory platform filed its application with BZX Exchange. In the past, Kryptoin has attempted to get the green light for Bitcoin, but failed.
After WisdomTree and VanEck, this will be the third fund application for Bitcoin that the SEC is currently deciding whether to approve or not. It has 240 to make a decision.
There are currently nine active applications that the SEC are sifting through, and it’s possible that they will grant more than one application at once, with the primary purpose to encourage competition, so that they don’t favour one company more than another.