The U.S. Securities and Exchange Commission (SEC) will decide on VanEck’s application to launch a Bitcoin-based exchange-traded fund (ETF) within the next 45 days.
The regulator may approve or deny the company’s request, or extend the review period to 240 days. Interested parties will have 21 days to submit comments.
Beside VanEck, applications to launch a Bitcoin-based ETF were filed by WisdomTree, NYDIG, Bitwise and Valkyrie Digital Assets. At the time of writing, the commission had rejected all requests, citing among other things the potential for price manipulation.
Oжидания одобрения биткоин-ETF возросли после того, как президент США Джо Байден номинировал экс-главу CFTC Gary Gensler to chair the SEC.
Earlier, Galaxy Digital founder Mike Novogratz predicted that the regulator would approve a Bitcoin ETF in 2021.
Galaxy Digital, together with CI Global Asset Management, has already launched a similar investment instrument in Canada.
In February, the Ontario Securities Commission granted approvals for launching Bitcoin ETFs to Purpose Investments and Evolve Funds Group. The first such exchange-traded fund in North America attracted $421 million within two days of trading.
Recall, Grayscale Investments opened nine vacancies mentioning its exchange-traded fund.
At the end of February, its Bitcoin Trust GBTC, with about $39.7 billion in assets, began trading at a discount. Arcane Research analysts saw this as a sign of rising competition.
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