VanEck applies for a Bitcoin strategy ETF with the SEC

The global investment company VanEck has again applied for a Bitcoin Strategy Exchange Traded Fund (ETF). The US company has tried several times over the past few years, but the SEC has yet to approve a single BTC ETF.

  • The New York investment firm VanEck has filed an application with the SEC to introduce a BTC strategy ETF.
  • The ETF will contain bitcoin futures, bitcoin funds and various other investment vehicles related to the primary cryptocurrency.
  • According to Bloomberg analyst Eric Balchunas, this is the fourth Bitcoin ETF to be filed with the SEC under the 1940 Act. In addition, he claims the chairman of the commission – Gary Gensler – has hinted that they have a higher chance of getting the green light.
  • Interestingly, VanEck has already submitted numerous Bitcoin ETFs to the agency, but so far without success.
  • A few weeks ago, the investment company’s president – Jan van Eck – claimed that the company’s customers have a growing appetite for such a financial instrument and asked the SEC to approve it:
  • “We really think the SEC should approve a Bitcoin ETF. I can’t predict what the SEC will do, but investors are really asking for a more efficient access tool. “

  • In fact, VanEck too filed for an Ethereum ETF. If approved, the application would be the first Ethereum exchange-traded fund available in the US market.
  • It’s worth noting that the SEC has not yet approved even a bitcoin or any other ETF tracking the performance of a digital asset in the United States.
  • At the same time, the Canadian Securities Commission has already authorized several companies such as Galaxy Digital and CI Global Asset Management to launch such a product in the northern country.

SPECIAL OFFER (sponsored)
Binance Futures 50 USDT FREE Coupon: Use this link to register and get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register and enter the POTATO50 code to receive 50% free bonus on every deposit up to 1 BTC.

Comments are closed.