SEC Strike VanEck Bitcoin ETF Project

nnIn the United States New York currency management company VanEck applied for the creation of VanEck Vectors Bitcoin Strategy ETF (Bitcoin strategic ETF), used to invest in the “US exchange trading Bitcoin derivatives, joint investment vehicles, exchange trading products to provide Bitcoin channel product”. But the news shows that the SFC has determined not to review the underlying investment instrument does not exist in the fund.n
nTranslation: Annie_Xun
Public records show that the US Securities and Futures Commission (SEC) officials veto the spot currency futures ETF (exchange-traded funds) listing requirements.n
Last month CoinDesk reports that VanEck, a New York-based currency management company, has applied for the creation of the VanEck Vectors Bitcoin Strategy ETF, which is used to invest in “US exchange trades, coin investment instruments, exchange trading instruments, etc. Channel products “. This is a financial product created by investors to collect encrypted money indirectly.n
However, the Division of Investment Management received a letter that VanEck Assistant Counsel Matthew Babinsky said the agency officials would not consider reviewing the company’s request because the currency markets such as Bitcoin had just started.n
So VanEck intends to withdraw (at least for now) the application filed in August:n
The letter said:n
n”The trust fund mentions on the telephone of the agency staff on 20 September 2017 that the Commission’s policy is that the policy of the SFC is not a review of the main investment objectives without the underlying tools of the fund, which means that the amendment must be withdrawn until the Fund intends The standard tool for investment is available. “n

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