Ex-World Gold Council Managing Director to Launch Bitcoin ETF Fund
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Oct. 23, 2019

The former Managing Director of the World Gold Council Jason Toussaint has filed an initial registration statement with the U.S. Securities and Exchange Commission (SEC) to launch Kryptoin Bitcoin ETF Trust, an exchange-traded fund.

As the registration statement claims, the fund will not purchase or sell bitcoin (EXANTE: Bitcoin) directly. The fund will reportedly sell & buy bitcoins in “in-kind” transactions in blocks of 100,000 shares (a “Basket”) at the fund's net asset value.

Meanwhile, the SEC opened a new round of public comments about Wilshire Phoenix's bitcoin ETF. Wilshire Phoenix and NYSE Arca Exchange have updated their application since they believe the regulator must take into account some new circumstances that might affect its decision on whether to approve or not this new investment instrument.

Earlier iHodl reported that the SEC rejected Bitwise Asset Management's proposal to launch a bitcoin ETF. The application had been filed in collaboration with NYSE Arca.

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