Bitcoin (BTC) Price Tops $29,000 Hitting New ATH, Will It End 2020 Above $30,000?
Dec 31 2020 · 09:31 UTC | Updated
Dec 31 2020 · 17:36 by Bhushan Akolkar · 3 min read
Photo: Depositphotos
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Bitcoin (BTC) continues with its aggressive rally as the world’s largest cryptocurrency eyes for $30,000 before bidding the final adieu to 2020. It has been a phenomenal year for BTC investors as the world’s largest has emerged a potential outperformed to Gold.
Bitcoin (BTC) has emerged as an unstoppable force in 2020 as the world’s largest cryptocurrency moved past $29,000 levels thereby hitting a new all-time high earlier today. Over the last week, Bitcoin has spiked up significantly extending its weekly gains above 25% in the recent move.
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.
Author:
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 (
GBTC) - Get Report, but it trades 24% above its net asset value.
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
Item 3.02. Unregistered Sales of Equity Securities.
Since the sales reported on the most recently filed Current Report on Form 8-K
by Grayscale Bitcoin Trust , the Trust issued 19,324,600
Shares at. | January 24, 2021
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