HomeBlockchainVanEck submits a new...

VanEck submits a new application for a Bitcoin investment fund to the SEC.

VanEck, a company in New York that manages money, is trying to start a new kind of investment fund for Bitcoin. They have sent a new request to the government to get permission to do this. The United States Exchange (SEC) is a government organization that oversees the stock market and securities industry.

Instead of using the same methods as other applicants, VanEck decided to submit new documents for its cash ETF on October 27th. This special way makes VanEck different from other companies in the Bitcoin spot ETF market.

The US SEC said no to VanEck’s plan to sell and trade shares of VanEck Bitcoin Trust on March 10. The regulators have said no to VanEck’s Bitcoin investment plan three times.

The SEC has been saying no to different ETFs that follow digital money, like VanEck’s requests in June and November 2021. These rejections mainly relate to worries about possible market cheating in the digital asset. “Move on foot”
VanEck has created a new way to make funds with Bitcoin.

Financial lawyer Scott Johnsson explains that the new filing shows VanEck’s Bitcoin ETF will use Bitcoin to start the fund, instead of using cash like other Bitcoin offerings. Bitcoin ETF is an investment fund that tracks the price of bitcoin and can be traded on stock exchanges.
The VanEck Bitcoin Trust is set up to be an ETF that trades on the Cboe BZX Exchange. The main goal of the trust is to match how well Bitcoin is doing, after taking out the costs of running the trust. To reach this goal, the trust will keep Bitcoin instead of money.
This filing for a Bitcoin ETF is different because of how the fund is started. When the trust wants to sell or buy back its shares, it will do it in groups of 50,000 shares, called a “Creation Basket. ” “The basket’s value depends on how much Bitcoin it is worth, which is the total value of the shares in it. ” If you want to buy Bitcoin with cash, the amount you need to pay will be calculated based on the price of the Bitcoin in the Creation Basket, as decided by the administrator.

VanEck is trying to get approval for a Bitcoin Exchange-Traded Fund (ETF).

VanEck wants to start a Bitcoin investment fund. They are joining other companies that are also trying to do the same thing. Bitwise changed their application after the SEC had some worries about it.
Earlier this month, ARK Invest and 21Shares worked together to provide more information about their plan for a Bitcoin investment fund. This involved explaining how they keep and value their assets. This new wave of changed paperwork shows that talks between managers and regulators may be moving forward.
The US SEC has delayed making a decision on several requests to start a new type of investment fund that includes Bitcoin. These requests are from companies like BlackRock, Invesco, Bitwise, VanEck, and Valkyrie. Traders and experts think a decision will be made soon.

VanEck has two plans: owning Bitcoin and creating an ETF similar to Ethereum.

VanEck is still keeping Bitcoin for its planned Bitcoin spot ETF, but it’s also doing well in the crypto space. They are getting ready to start selling contracts similar to Ethereum in the future, once the SEC says it’s okay. Thankfully, VanEck will soon offer an Ether Futures ETF that will be a standard product. This will include futures contracts that are settled with cash and can be traded on the Commission’s regulated commodities platform. The Commodity Futures Trading Commission is a government agency that regulates trading of commodities like oil, gold, and other goods.

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

BINANCE RECONSIDERS RULES FOR TOKEN LAUNCH, INSISTS ON QUALITY FOR NEW LISTINGS

Binance has noticed the low-float token trend and will limit...

Bullish Forecast for Bitcoin (BTC) from Analysts: “Last Opportunities Before Parabolic Rally!”

While Bitcoin has experienced a significant increase recently, surpassing $67,000, analysts...

KOI Announces Strategic Partnership with B² Network

KOI, Kingdom of Inscription, a unique game economy powered by AI...

Which Altcoins Will Binance List? Here is the New Strategy!

While Binance, the world's largest cryptocurrency exchange, continues its altcoin listings...

- A word from our sponsors -

Read Now

BINANCE RECONSIDERS RULES FOR TOKEN LAUNCH, INSISTS ON QUALITY FOR NEW LISTINGS

Binance has noticed the low-float token trend and will limit listings based on a new rule set. Venture-backed projects are entering the market, often with a low float. VC funding returned in Q1, creating a new challenge for centralized exchanges. Binance issued a new list of rules for...

Bullish Forecast for Bitcoin (BTC) from Analysts: “Last Opportunities Before Parabolic Rally!”

While Bitcoin has experienced a significant increase recently, surpassing $67,000, analysts continue to interpret BTC's price movements and make new predictions. At this point, many analysts argue that Bitcoin is currently in a consolidation and reaccumulation phase. Analysts note that the current phase presents an opportunity for investors to...

KOI Announces Strategic Partnership with B² Network

KOI, Kingdom of Inscription, a unique game economy powered by AI and Bitcoin liquidity, is pleased to reveal that they have entered into a partnership with B² Network, the prime choice for Bitcoin’s Layer-2 framework. This partnership is aimed at adding a new layer of liquidity to...

Which Altcoins Will Binance List? Here is the New Strategy!

While Binance, the world's largest cryptocurrency exchange, continues its altcoin listings at full speed, it significantly moves the price of the relevant altcoin with its listings. While investors were looking forward to Binance listing new altcoins, a new statement came from the exchange regarding the altcoin listing policy. At...

ENERGY SECTOR SEES THE BIGGEST SPIKE IN “AI” MENTIONS IN Q1, BEYOND TECH

More energy companies talked about AI in the earnings call in Q1, compared to the previous quarter. The info-tech and communication sectors still account for the highest number of “AI” mentions. The traction of AI development is placing a huge demand on energy globally. Artificial intelligence is...

Big Debate Between Analyst Saying “Bitcoin is Dead” and a 50 Years of Economist

Peter Schiff and Peter Brandt, two analysts who frequently share analyzes about the cryptocurrency market, got into a serious discussion. The discussion first started after gold-loving analyst Peter Schiff commented on the performance of some assets recently. Citing a previous tweet, Schiff mentioned that the price of silver...

Nimble Network Announces a New Collaboration with Anome

Nimble Network, a decentralized artificial intelligence orchestration layer to improve the AI ecosystem, has recently announced an exclusive partnership. As per the company, it is joining forces with Anome (an on-chain game ecosystem focusing on enhancing GameFi, NFT liquidity, NFTFI, and DeFi. On its official account on...

RESEARCH SHOWS AI HELPS IN HEALTH CARE TRANSFORMATION

AI accelerates drug discovery in the healthcare sector. AI transforms health research but requires careful implementation. Faster disease diagnosis with AI, but bias concerns. Artificial intelligence is reshaping health research and speeding up the discovery of drugs and disease investigation. With the help it brings to the healthcare...

Solana and Sui Lead Fastest Blockchain Race with Record Transaction Speeds

In the dynamic world of blockchain technology, transaction speeds have become a pivotal metric for measuring platform performance. CoinGecko’s latest report reveals a notable surge in transaction speeds across leading blockchain platforms, driven by a wave of on-chain activity and the rising popularity of meme coins. Solana Leads...

These Are The 28 Altcoins Binance Has Invested In But Hasn’t Listed Yet

Binance Labs, the investment arm of Binance, the world's largest cryptocurrency exchange, has been investing in many altcoin projects recently. However, Binance does not yet list many of the altcoins it invests in on its exchange platform. Although Binance's investment in a project does not guarantee listing on...

BRITISH MOTORISTS SKEPTICAL OF AI-DRIVEN VEHICLE SUPERIORITY

Three in five British drivers doubt automatic vehicles’ capabilities. AI technology faces skepticism from British motorists. UK drivers think they’re better than AI cars. A recent poll suggests that 60% of UK drivers are convinced they are better than automatic AI-driven vehicle technologies. The UK government hopes to...

CryptoQuant CEO Announces the Bullish End Date in Bitcoin!

Leading cryptocurrency Bitcoin reached a new ATH, surpassing its previous ATH of $69,000 before the halving in April. While the new ATH before Halvig increased investors' bullish expectations, BTC experienced serious corrections afterwards. While these corrections caused speculation that the bear market had started again, CryptoQuant CEO Ki Young...