Former World Gold Council executives are developing a new Bitcoin ETF that has submitted a preliminary registration statement to the SEC

According to CoinDesk, former World Gold Council executives and SPDR Gold ETF Portfolio Manager are currently working with asset management company Kryptoin Investment Advisors to develop a bitcoin exchange-traded fund. Kryptoin Investment Advisors has submitted a preliminary registration statement to the US Securities and Exchange Commission (SEC). It is reported that the fund will track the Chicago Bitcoin CF bitcoin reference exchange rate to reflect the actual market price of Bitcoin. Although they refused to disclose the management fee for the fund, the filing document stated that it would handle the creation and redemption operations and only charge management fees in the form of bitcoin.