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.
The Bitcoin Investment Trust, a bitcoin-based exchange traded fund (ETF), has been sponsored by investment firm Grayscale Investments for Securities and Exchange Commission approval. The submission included two new provisions: a proposed maximum size of $1bn and the addition of authorised participants Credit Suisse, KCG and Wedbush Securities. The provisions represent a bid to gain approval where bitcoin ETFs have failed in the past. Grayscale Investment is a subsidiary of the Digital Currency Group, a bitcoin-based holding company.