VanEck Files Application to Launch a Spot Bitcoin Exchange Traded Fund

Asset manager VanEck has just filed a new application to launch an exchange-traded fund (ETF) based on Bitcoin.

The Securities and Exchange Commission (SEC) rejected the company’s previous filing in November 2021.

Then, the regulator pointed to a non-compliance with investor protection standards, as well as the requirements “to prevent fraudulent and manipulative actions.”

VanEck Bitcoin Trust has said in the filing:

“The approval of the proposal will grant access to Bitcoin and avoid reliance on either defective or regulated products in other countries.”

The company has noted that a positive verdict would be logical after the resolution of the Bitcoin futures ETF. A similar tool from VanEck received approval in October last year, which became the third in a row after products from ProShares and Valkyrie Investments, which received a listing in the US.