Money management company VanEck wants to launch Bitcoin ETF


nnnIn the Winklevoss brothers before the very sensational bitcoin ETF application was rejected, there are still many companies hope to continue to try in this area. At present, the United States well-known fund management company VanEck submitted to the SEC related applications. Although it is not known how the results, but the move is still worth the wait. Perhaps the passage of time, SEC will change their views on the field.n
nnTranslated by: Inan
nAn American fund manager wants to launch an exchange-traded fund (ETF) linked to the price of Bitcoin.n
nHeadquartered in New York, VanEck is seeking to create the VanEck Vectors Strategy ETF. According to its filings with the SEC, its goal is to let the ETF be listed on the Nasdaq Stock Exchange.n
nAccording to its preliminary prospectus issued on August 11, the fund will not invest directly in the currency or other ETFs bound to the digital currency, but will buy shares that will highlight the derivatives and financial products developed by the Bitcoin market.n
nThe application documents explain:n
nn”The Fund aims to invest in US-specific coin-related exchange trading derivatives (Bitcoin Tools) and aggregate investment vehicles and exchange trading products (in addition to Bitcoin instruments, which are also used to promote the use of Bitcoin under normal circumstances) Have a coin investment) to achieve the investment target.n
nnHowever, this ETF is not limited to securities that are bound to bitcoins. In addition, according to its prospectus, the fund will also invest in US Treasury bonds, money market funds and other assets such as cash.n
nBefore the ETF attempt, more and more digital currency derivatives activities continue to emerge.n
nLast month, the US Commodity Futures Trading Commission awarded the start-up company LedgerX derivatives clearing agency license, and the options exchange CBOE also plans to launch such products later this year.n
nIn view of the SEC in the past to resist this application, it will approve the ETF remains to be seen.n
nThe SEC has rejected two of these ETF applications in March, including a project by well-known investor Winklevoss Brothers, which has begun a review of the decision, which is expected to be released later this year.n

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