The fintech startup SolidX has filed a lawsuit against investment firm VanEck. The filing concerns its application to register a bitcoin-based exchange-traded fund (ETF), Law360 reports.<\/p>\n
<\/p>\n
SolidX had been working on creating a bitcoin ETF since 2015, and later joined forces with VanEck. The two companies filed a joint application, but withdrew it in September 2019.<\/p>\n
In 2020, the partners ended their relationship. However, on December 30, VanEck filed a new filing<\/a> to launch a bitcoin ETF.<\/p>\n SolidX argues that VanEck acted in bad faith. The startup’s representatives describe the registration filing with the U.S. Securities and Exchange Commission (SEC) as plagiarism.<\/p>\n \u201cThe structure of the proposed VanEck bitcoin ETF is essentially identical to the structure for which SolidX sought SEC approval,\u201d the suit states.<\/p>\n<\/blockquote>\n The startup claims that the bitcoin ETF the partners were working on was originally named SolidX Bitcoin Trust. It was later renamed VanEck SolidX Bitcoin Trust at the defendant’s insistence.<\/p>\n Earlier, JPMorgan strategists stated that approval of a bitcoin ETF in the United States will negatively affect<\/a> the price of the leading cryptocurrency in the short term.<\/p>\n Subscribe to ForkLog news on Telegram: ForkLog Feed<\/a> \u2014 the full news stream, ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":" The fintech startup SolidX has filed a lawsuit against investment firm VanEck. The filing concerns its application to register a bitcoin-based exchange-traded fund (ETF), Law360 reports.<\/p>\n","protected":false},"author":1,"featured_media":34666,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[784,1211,26,783],"class_list":["post-34665","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-solidx","tag-stock-market","tag-usa","tag-vaneck"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/34665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=34665"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/34665\/revisions"}],"predecessor-version":[{"id":34667,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/34665\/revisions\/34667"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/34666"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=34665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=34665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=34665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n