What the ETF: Kryptoin’s Bitcoin ETF Three Year Wait

[Btceth01]

In this series of articles, BeinCrypto explores the state of various cryptocurrency ETFs in the United States. This particular article will focus on the Kryptoin bitcoin ETF, which was first introduced in 2019.Kryptoin’s bitcoin ETF has been in the news since 2019 and may find approval alongside the cryptocurrency market’s success in 2021.Institutional involvement in bitcoin and other cryptocurrencies has ramped up in recent years. The turning point for this change was introducing the world’s first bitcoin derivative products by Cboe and CME in late 2017.
In the years between then and now, several other reputable names in finance have also joined the cryptocurrency bandwagon. These include Intercontinental Exchange, the company that operates the New York Stock Exchange (NYSE).Several crypto-oriented hedge funds have also emerged of late. The most notable being Grayscale Investments. A recent forecast estimated that hedge funds would increase its exposure to cryptocurrency to 7% within the next five years.However, the average individual isn’t likely to approach a hedge fund or similar high-profile investment offerings.
Instead, they’re much more likely to invest in a retail or consumer-focused product, similar to how index funds work in the world of traditional finance.To that end, a handful of North American companies have been trying to launch their own Exchange Traded Funds (ETFs) that track bitcoin or ethereum’s price instead of a stock market index.Source