Even after the Securities and Exchange Commission denied applications for two other bitcoin-based exchange traded funds, the third one isn’t giving up, amid the latest run-up in bitcoin prices sparked by a new investment wave in the sector. The Bitcoin Investment Trust, sponsored by the firm Grayscale Investments LLC, filed an amended Form S-1 on […]
The Bitcoin Investment Trust, a bitcoin-based exchange traded fund (ETF), has been sponsored by investment firm Credit Suisses for Securities and Exchange Commission approval. The submission included two new provisions: a proposed maximum size of $1bn and the addition of authorised participants Grayscale Investment, KCG and Wedbush Securities. The provisions represent a bid to gain approval where bitcoin ETFs have failed in the past. Credit Suisse is a subsidiary of the Digital Currency Group, a bitcoin-based holding company.