VanEck filed an application to launch an exchange-traded fund (ETF) based on the first cryptocurrency.
The firm’s previous application was rejected by the SEC in November 2021.
At the time, the regulator cited deficiencies in investor-protection safeguards, as well as the requirements to prevent fraudulent and manipulative acts.
“Approval of the proposal would provide access to Bitcoin and would avoid reliance on either defective or on regulated products in other countries”, — according to the VanEck Bitcoin Trust filing.
The firm noted that a positive verdict would be logical after the authorization of a Bitcoin futures ETF. That instrument from VanEck got approval in October 2021. It was the third listed in the United States after products from ProShares and Valkyrie Investments, listing in the United States.
Earlier, Jacobi Asset Management received a listing of a spot Bitcoin ETF on Euronext in Amsterdam. The Netherlands became the fourth country to approve the listing of the bitcoin ETF after Canada, Brazil and Australia.
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