VanEck submitted a new bitcoin ETF registration application to SEC

The New York-based investment management company VanEck, recently submitted an application to the Securities and Exchange Commission (SEC) to register VanEck Bitcoin Trust.

According to the documents submitted to the federal agencies, the preliminary prospectus was submitted on December 30,2020.

VanEck had filed similar applications with SEC twice before and were rejected last year. Since then, the company withdrew its previous application in September 2019.

So far, SEC have considered many Bitcoin-based ETF applications, but all have been rejected. In August 2018, the regulator rejected nine such proposals on the same day.

Last October, SEC Chairman Jay Clayton said the body remained open to considering ETF proposals.

VanEck now submit another new S-1 document called Vaneck Bitcoin Trust to regulators. The ETF shares will be traded on the Chicago Options Exchange (CBOE) for the year.

Twitter users Kevin Rooke reminded people of the documents submitted by the $49 billion investment company.

VanEck investment deputy Jamie Hannah said in a recent report that the company was “increasingly interested in bitcoin “.

Previously, VanEck listed Bitcoin-centric exchange-traded notes on the German Deutsche Borse Xetra Exchange on November 25.

VanEck Vectors total cost ratio of bitcoin ETN is 2%, which is designed to enable investors to obtain the encrypted currency without direct purchase. According to the investment management company, it works Bank Frick with Liechtenstein’s custodian bank, which will provide a “cold storage” for the stored bitcoin “.

Some twitter users claim that VanEck have been trying to get SEC approval for years. However, some cryptocurrency enthusiasts believe this is a bullish move that could fuel the current rise in Bitcoin.

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