This new fund is being developed for a couple of years and would keep track of the CME CF
In his recent interview, the head of exchange-traded products at Kryptoin Jason Toussaint said:
“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. There was also a lot of learning the SEC had to go through to fully understand and gain a level of comfort with the underlined gold market.”
He is now the head of product development in the budding firm. Previously, Toussaint is known for managing SPDR Gold Shares (GLD), a top name in the world gold ETFs, as he was the CEO at World Gold Trust Services, a fully-owned subsidiary of the World Gold Council. The State Street Global Advisors now market that product.
If the SEC approves this new ETF of
However, the SEC-approved Exchange-Traded Funds have become more of a holy grail now, with not a single offering given the green signal by the SEC.
This year saw three different
How Things Will Shape Up
This new ETF of
Toussaint’s first gold ETF experience is reflecting the strategy they’re going to implement. He said that Bitcoin has seen resistance from regulatory bodies, just like the gold ETF, as non-publicly listed securities that fall under an ETF structure requiring exchanges, crypto and gold, for being more transparent with financial pricing, volume, as well as other
They’re also closely monitoring the maturing BTC futures contracts hoping that more resilience will be shown by the markets towards manipulation.
Generally, with markets maturing, both in the case of spot and futures markets, the regulatory bodies tend to be positive about the
“This is not another S&P ETF. We are in this [process] for the long haul,” Toussant said. “Of course, we want to get it approved as soon as possible, but the firm is realistic, in terms of its expectations, given the recent comments through the Bitwise
Besides the underlying BTC asset, volatility is something the SEC is more cautious about in general.
CLS Investments portfolio manager, Kostya Etus, said:
“The challenge of launching a
Not disclosing more details about the legal process of the firm with the SEC, Donnie Kim – Kryptoin’s CEO – was of the view that advancements in various regulatory aspects can be taken positively
“The CFTC’s approvals for