VanEck, an investment company with $76 billion in assets under management, joined the group with the update it made on its spot Bitcoin (BTC) ETF application.
Investment giant VanEck, Fidelity And BlackRock’s then apply for a spot Bitcoin exchange traded fund (ETF) by updating He submitted it to the SEC. The striking point in the application updated by the company is Seed investments are made in Bitcoin, not cash. There were statements that it could be collected.
Company financial lawyer Scott Johnson The seed investment method in their current application is similar to BlackRock’s, but unlike them, it is not used as seed financing. Bitcoin instead of cash There is a statement regarding the use of stated:
Similar language to Blackrock amendment: seed investment. This is perhaps not too surprising given that both issuers are represented by the same lawyers at Clifford Chance. Apart from this, Vaneck recommends making seed investments with Bitcoin instead of cash like iShares. This is a positive update.
In the updated application, a seed capital investor October via Bitcoin inSeed Investment Basket” was stated. For this example a representative process The VanEck front, stating that there will be a transaction, argued that seed investments should be offered to banks and intermediaries via Bitcoin.
VanEck is providing this update to the U.S. Securities and Exchange Commission. (SEC) in the past weeks ETF issuers one sent for in reply to e-mail carried out. While the update painted a positive picture that communication with the SEC is continuing, it also provided more clarity regarding the details of the spot Bitcoin ETF.