SEC also evaluates Cryptocurrency ETF

Critical periods in the process of approval of #ETF applications, which Bitcoin investors have been waiting for a long time, started to come slowly. The US Securities and Exchange Commission ( #SEC) announced that it has considered the ETF application of Bitcoin investment firm Krypto for institutional firms and small investors.

The institution began examining Cryptoin's Bitcoin ETF Trust application filed with the Cboe BZX Exchange, according to the SEC's public statement on Thursday.

#Kryptoin made an ETF application to the SEC in 2019, but like many other applications, it received a rejection. With Kryptoin's application being evaluated, the number of applications including VanEck and WisdomTree reached 9 in total. The SEC has a maximum of 240 days to give a definitive response to each request, such as acceptance or rejection.

Experts point out that the SEC is more likely to accept multiple companies' requests than initially accept a single ETF in order not to undermine competition.