Van Eck to Offer Limited Bitcoin ETF Aimed at Institutional Investors

Van Eck to Offer Limited Bitcoin ETF Aimed at Institutional Investors

New York-based Van Eck Securities and SolidX Management will start offering shares in a Bitcoin exchange-traded fund (ETF), the Wall Street Journal (WSJ) reports.


Crypto ETF Available to Institutional Investors

Even if only a few days have passed since the start of September, this month might be a turning point for Bitcoin and the crypto space in general. After Binance and Bitfinex announced their crypto derivatives yesterday, and while Bakkt is gradually launching its Bitcoin futures platform with physical delivery, Van Eck is ready to set another milestone for the crypto industry.

The investment management firm, in partnership with SolidX, plans to start selling shares in its crypto ETF. The limited version of the fund will be aimed at certain institutional investors like banks, hedge funds, and brokers.


VanEck SolidX Bitcoin Trust Exempt for SEC Registration

Bitcoin has been around for more than a decade, and we still dont have the first BTC ETF. The Securities and Exchange Commission (SEC) has been quite hesitant to give crypto funds the green light.

However, Van Eck and SolidX say that they rely on a rule that would exempt the ETF shares from SEC registration. The Bitcoin ETF shares will be offered under SECs Rule 144A, which enables the sale of privately placed securities to certain institutional investors.

Meanwhile, Van Eck and SolidX are still waiting for the SEC approval for their 2018 application for a Bitcoin ETF. The companies claim that the limited version of the fund will show the regulator that a Bitcoin ETF can work.

The SEC representatives didnt want to comment on Van Ecks move. The regulator still complains that frauds and manipulations are normal in the crypto market.

Van Ecks approach intrigue some investment experts. Anna Pinedo, a partner at Mayer Browns New York office, told the WSJ that she had never seen a company offering shares under Rule 144A and then seeking the green light for a product aimed at retail investors.

Do you think Van Ecks limited version of the fund will prove to the SEC that a Bitcoin ETF actually works? Share your thoughts in the comments section!

Images via Shutterstock

The post Van Eck to Offer Limited Bitcoin ETF Aimed at Institutional Investors appeared first on Bitcoinist.com.

03.09.2019 / 05:20 38
5 Reasons Why VanEcks Bitcoin ETF Should be Approved by the SEC in 2019 5 Reasons Why VanEcks Bitcoin ETF
At a meeting with the US Securities and Exchange Commission (SEC) commissioner Elad L. Roisman, representatives from SolidX, VanEck, and CBOE
Tyler Winklevoss: It Will Take Time for Wall Street to Make Crypto Jump Tyler Winklevoss: It Will Take Time
Crypto exchange Gemini CEO Tyler believes it will take time for the majority of Wall Street to enter the cryptocurrency sector. The Winklevoss
US SEC Postpones Decision on VanEck/SolidX Bitcoin ETF to September US SEC Postpones Decision on
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the VanEck/SolidX Bitcoin ETF until September 30, 2018, according to
SEC Postpones Decision on Vaneck Solidx Bitcoin ETF but Previous Concerns Resolved SEC Postpones Decision on Vaneck Solidx
The U.S. Securities and Exchange Commission (SEC) has extended the time period it needs to make a decision on the Vaneck Solidx bitcoin ETF based on
SEC Mulls Unconventional Bitcoin ETF Application SEC Mulls Unconventional Bitcoin ETF
The U.S. Securities and Exchange Commission (SEC) has formally issued a call for public comment on yet another proposal to list a bitcoin ETF
New Physically-Backed Bitcoin ETF Proposal Filed with SEC New Physically-Backed Bitcoin ETF
Van Eck Associates Corp. and SolidX Partners Inc. are hoping to have learned from past efforts at getting SEC approval for a Bitcoin exchange traded
Comments (0)
Add a comment
Comment on