VanEck Files Again With SEC to Introduce Bitcoin ETF
The SEC has rejected several investment firmsâ efforts during the past few years to start a true bitcoin ETF.
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Is a bitcoin exchange-traded fund (ETF) finally coming?
Many investors/speculators hope so, and so does money manager VanEck Associates, which filed with the Securities and Exchange Commission Wednesday to introduce The VanEck Bitcoin Trust.
The SEC has rejected several investment firms’ efforts during the past few years to start a true bitcoin ETF, because it views the vehicle as very speculative. There is the Grayscale Bitcoin Trust (
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An array of fund issuers and investment firms have tried to bring bitcoin exchange traded funds to market, and each and every one of those proposals was turned back by the Securities and Exchange Commission.
What Happened: Some issuers aren t giving up. VanEck, which previously attempted to bring a bitcoin ETF to market, filed plans with the SEC for the
VanEck Bitcoin Trust.
If the fund comes to life, and that is a big if for now, it would trade on the CBOE.
“The Trust’s investment objective is to reflect the performance of the MVIS CryptoCompare Bitcoin Benchmark Rate less the expenses of the Trust’s operations. In seeking to achieve its investment objective, the Trust will hold bitcoin and will value its Shares daily based on the reported MVIS CryptoCompare Bitcoin Benchmark Rate, which is calculated based on prices contributed by exchanges that the Sponsor’s affiliate, MV Index Solutions GmbH (MVIS), believes represent the top five bitcoin exchanges based on the