VanEck has refiled its application for a Bitcoin Strategy ETF, and this one is likely to be approved by the Security and Exchange Commission – SEC.
Bloomberg Senior ETF Analyst Eric Balchunas has announced that the fourth application of VanEck for Bitcoin Strategy ETF might just be the charm.
This ETF is expected to encompass Bitcoin (BTC) futures as well as other funds. The application as per the requirements of the SEC was filed under the 1940 Act. Balchunas trusts that this time Gary Gensler, Chair of SEC is more inclined to give his approval on the latest application for the ETF.
VanEck just filed for a “Bitcoin Strategy ETF” which will hold bitcoin futures and other bitcoin funds(just like Invesco’s last week). This is the 4th bitcoin futures filing under the 40 Act that Gensler signaled were more likely to be approved. pic.twitter.com/WOdYPID2OQ
— Eric Balchunas (@EricBalchunas) August 10, 2021
This is not the first time that VanEck has filed for a Bitcoin (BTC) ETF. The third application was submitted last December. However, in May of 2021, VanEck filed the same ETF for Ethereum (ETH) as well, which would be called the VanEck Ethereum Trust and would be traded on Cboe BZX Exchange if the approval would go through.
VanEck Vectors Digital Assets Equity UCITS ETF (DAPP) is the Ethereum ETF that VanEck launched in Europe in early 2021. The ETF is listed in both Deutsche Boerse and the London Stock Exchange.