January 25, 2021
Without a dedicated Bitcoin exchange traded fund available in the U.S., investors options are to directly buying the largest digital asset, the futures market, or some blockchain ETFs.
Another option appears to be on the way, with VanEck filing plans for the
VanEck Vectors Digital Assets ETF. The concept was revealed in a recent filing with the Securities and Exchange Commission.
“Digital asset companies may include small- and medium-capitalization companies and foreign and emerging market issuers, and the Fund may invest in depositary receipts and securities denominated in foreign currencies,” according to the filing.
It’s not immediately clear if the new ETF will be comparable to existing blockchain funds on the market.
MV Index Solutions: MVIS and Diamond Data Derivatives Launch the Universal Standard Diamonds Evaluation 100 Index
Today, MV Index Solutions GmbH (MVIS
) in collaboration with Diamond Data Derivatives Ltd. ( DDD ) announced the launch of the Universal Standard Diamonds Evaluation 100 Index (ticker: USDE).
Owned and originally developed by DDD, the Universal Standard Diamonds Evaluation 100 Index (ticker: USDE) has been designed to capture the global market of cut and polished wholesale diamonds based on sales volume (measured by amount of diamonds) of the top 100 traded diamonds. The index is composed exclusively of lab graded diamonds. We are proud to partner with DDD to launch the first-ever real-time price index for physical investment-grade diamonds, stated Steven A. Schoenfeld, CEO of MV Index Solutions. For decades, the global diamond industry has sought an investable index suitable to serve as the benchmark for investment products, and we believe that the USDE100 will
Wall Street Revives Dream of Bitcoin ETF With New SEC Filing
Bloomberg 12/31/2020 Claire Ballentine and Vildana Hajric
(Bloomberg) For years, regulators have quashed hopes of a Bitcoin exchange-traded fund, citing worries about everything from market volatility and industry manipulation to thin liquidity.
Just like Bitcoin itself, issuers keep fighting back.
VanEck Associates Corp. has started a new push to launch an ETF tracking the world’s largest digital currency, according to a filing Wednesday to the U.S. Securities and Exchange Commission. The VanEck Bitcoin Trust would reflect the performance of the MVIS CryptoCompare Bitcoin Benchmark Rate.
It’s a bold move for the New York-based firm. There have been multiple applications for crypto-tracking ETFs over the years, and the SEC has denied them all.
December 31, 2020
The bitcoin exchange traded fund story still has life, although the Securities and Exchange Commission (SEC) keeps rejecting the idea. That doesn’t mean issuers are throwing in the towel.
As the largest cryptocurrency continues its ascent to record highs around $29,000, VanEck has filed plans with the SEC for the
VanEck Bitcoin Trust.
“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 industry leading CryptoCompare Exchange Benchmark review report,” according to the filing.
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