Different Approach: VanEck Files for a Bitcoin Strategy ETF with The SEC

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Different Approach: VanEck Files for a Bitcoin Strategy ETF with The SEC

VanEck seeks approval from the Securities and Exchange Commission to release a Bitcoin Strategy exchange-traded fund (ETF).

The global investment management company VanEck has filed again for a Bitcoin Strategy exchange-traded fund (ETF). The US firm has tried several times in the past few years but the SEC is yet to approve a single BTC ETF.

New York-based investment firm VanEck submitted an application to the SEC to roll out a BTC Strategy ETF.

The ETF will contain bitcoin futures, bitcoin funds, and various other investment instruments related to the primary cryptocurrency.

According to Bloomberg’s analyst – Eric Balchunas – this is the fourth Bitcoin ETF filed with the SEC under the 1940 Act. Moreover, he claims that the Commission’s Chair – Gary Gensler – has hinted that they have a higher chance of being greenlighted.

Interestingly, VanEck has previously submitted numerous Bitcoin ETFs to the agency, but to no avail so far.

A few weeks ago, the president of the investment company – Jan van Eck – asserted that the firm’s customers have a growing appetite for such a financial instrument and urged the SEC to approve it:

“We really think the SEC should approve a Bitcoin ETF. Can’t predict what the SEC will do, but investors are really asking for a more efficient access vehicle.”

In fact, VanEck also filed for an Ethereum ETF. If approved, the application would become the first Ethereum exchange-traded fund available on the US market.

It is worth noting that as of the moment, the SEC has not 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’s securities regulator have already authorized several companies such as Galaxy Digital and CI Global Asset Management to launch such a product in the northern country.