VanEck & Bitcoin ETF Hopefuls Refile Application To U.S. SEC (newsbtc.com)
Here’s the best tl;dr summary we could make of newsbtc’s coverage of the VanEck Bitcoin ETF:
Although the crypto market’s year-long downturn has yet to reverse, this nascent ecosystem saw a fundamentally positive, likely bullish announcement on Thursday, as a financial services provider refiled a Bitcoin exchange-traded fund application to the U.S. Securities and Exchange Commission.
Per previous reports from NewsBTC, a mere week ago, VanEck, CBOE, and SolidX Partners suddenly pulled their collaborative Bitcoin ETF application.
According to Gabor Gurbacs, the head of VanEck’s crypto division, the application has been filed again, this time, with the American government being fully open.
The VanEck SolidX Bitcoin ETF proposed rule-change has been submitted by CBOE. Hard work by all teams involved.
It can be assumed that the reopening of the government reassured VanEck that its Bitcoin investment vehicle proposal could be approved in due time.
As it stands, the proposed investment instrument is still centered around providing Wall Street investors, high net-worth individuals, and notable crypto funds, with a proper, secure, and regulated way to gain exposure to physical, not futures-based Bitcoin.
Bitfinex’d, an overt skeptic of much in the Bitcoin space, noted that the refiling was made in a bid to push the institutional narrative.
Original post reduced by: 71%
Read the full article here.
Related story: How Fidelity Bitcoin Custody Launch In Q1 Crucially Shows Institutional Demand Still Exists (CCN.com)
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CN [too long; didn’t read]
Summarised crypto news.