Everything is ready for the US Bitcoin ETF, except for the SEC's final push

The U.S. Securities and Exchange Commission issued an announcement on Thursday, announcing that it will begin evaluating the Kryptoin Bitcoin ETF Trust Fund, and Cboe BZX Exchange is the investment advisor of the ETF. Kryptoin applied for a Bitcoin ETF in 2019 but was not approved. This is the third Bitcoin ETF being evaluated by the U.S. SEC after VanEck and WisdomTree. The regulator has up to 240 days to approve or reject it.

2021 is the year when Bitcoin ETFs could become a reality, as many well-known companies such as Grayscale, Galaxy Digital, Kryptonian, VanEck, etc. are already competing for the first Bitcoin ETF in the U.S. It is worth noting that the U.S. Securities and Exchange Commission is working on a timeline and is expected to respond with a yes or no to VanEck's Bitcoin ETF proposal in the first week of May.

Bitcoin ETF applications are not new to the SEC, as they have rejected multiple Bitcoin ETF applications over the years. And this year, the cryptocurrency community is looking forward to a positive answer from the new SEC chairman, crypto-friendly Gary Gensler. SEC Commissioner Hester Pierce also agreed that under Gensler's leadership, Bitcoin ETFs will be re-examined. She said in an interview with FOX that Canada is already leading the Bitcoin ETF market, "Frankly speaking, Canada is ahead of us now, they not only have exchange-traded products for Bitcoin, but also exchange-traded products based on Ethereum."