New Bitcoin ETF proposal filed by gold fund veteran aims to be traded on NYSE

posted 4 months ago
Delaware-based asset manager Kryptoin Investment Advisors applied with the US SEC to launch a Bitcoin ETF. 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 company plans to hold Bitcoin and value the shares of the trust according to the Chicago Mercantile Exchange Bitcoin Reference Rate. The Bitcoin will be held at an unspecified third-party insured custodian that is also regulated under the Investment Advisers Act of 1940.
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