Former exec of the World Gold Council coming out with a new BTC ETF – Bitcoin ETF News

The Cayman Islands-based Kryptoin Investment Advisors filed an initial¬†registration statement with the U.S. Securities and Exchange Commission (SEC) for BTC ETF. The new ETF would track the CME CF Bitcoin Reference Rate to reflect bitcoin’s actual market price. According to the filing, it would process creations and redemptions and accrue its management fee solely in bitcoin.

¬†Krypton’s head of exchange-traded products Jason Toussaint said in an interview with Coin Desk that The benefits and challenges, when it comes to bitcoin as an asset class, are similar to what they were when the Gold Council brought SPDR Gold Shares to the market.

According to Jason Toussaint, there are two things that need to be addressed to get SEC’s approval, which includes the information-sharing agreements and a better understanding for the SEC of how these underlying crypto markets work. If SEC approves this new BTC ETFs, its shares would be listed on NYSE Arc, and it would also be the first BTC ETF to get approval.

So far this year, three companies filed for BTC ETF with US SEC, from which one case was denied one company withdrew and one is still pending.