VanEck re-applied to launch Bitcoin ETF

Investment management company VanEck has filed a new application with the US Securities and Exchange Commission (SEC) to launch a Bitcoin exchange-traded fund.

The previous application was withdrawn in September2019 shortly before the final decision was made on it. The company did not disclose the reasons for this action, but said that it is still interested in launching this product.

As before, VanEck plans to list its Bitcoin ETF on the Chicago Board Options Exchange (Cboe). The fund is similar to the previous proposed optionand the number of shares outstanding will directly depend on the volume of bitcoins managed by the trust.

So far, the SEC has ended up rejecting all incomingapplications for the launch of cryptocurrency exchange-traded investment funds. However, after the change of the chairman, it is possible that the regulator's vision on this issue will also change.

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