Bitcoin 

CBOE Withdraws VanEck, SolidX Bitcoin ETF Proposal From SEC Review

The Chicago Board Options Exchange’s (CBOE) BZX Equity Exchange has withdrawn its proposal before the U.S Securities and Exchange Commission (SEC) VanEck/SolidX Bitcoin (BTC) exchange-traded fund (ETF). SEC faced Oct. 18 deadline On Sept. 17, the SEC published a notice that the CBOE had withdrawn its application for the VanEck/SolidX Bitcoin ETF on Sept.13. Although no reason was given, the decision to withdraw the proposal came just weeks after the firm began offering a limited Bitcoin ETF for institutions. The SEC had already delayed a decision on the matter, but…

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Bitcoin 

VanEck Now Offering Bitcoin Financial Product for Institutional Investors

The CEO of investment management firm VanEck Associates, Jan Van Eck, said that the company is now offering a type financial product with exposure to Bitcoin (BTC). In an interview with CNBC on Sept. 11, Van Eck said that the product offered by the firm is a broker-traded fund and is currently not available to the public, but to institutional investors only. Van Eck further specified that it will trade over-the-counter and will not trade on a national securities exchange. The broker-traded fund is called VanEck SolidX Bitcoin Trust 144A…

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Bitcoin 

VanEck, SolidX to Offer Limited Bitcoin ETF for Institutions Via Exemption

Following another delay on Bitcoin exchange-traded funds (ETFs), asset managers VanEck and SolidX plan to sell a limited version of a Bitcoin ETF. VanEck Securities and SolidX Management want to start selling shares in a limited version of a crypto ETF, employing a rule that exempts the shares from securities registration, while shares can be sold only to certain institutional investors, The Wall Street Journal reports Sept. 3.  VanEck, SolidX Bitcoin ETF launching Sept. 5 According to the report, the investment management firms are planning to start selling on Sept.…

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Bitcoin 

‘Time for Plan ₿,’ Says VanEck Exec as Negative Yield Bonds Hit 27%

According to Deutsche Bank, 27% of global bonds traded are now negative yield, so expected to pay out less than their initial cost.  Negative yield bonds dwarf Bitcoin market cap This represents $15 trillion worth of debt. Or as VanEck digital asset director, Gabor Gurbacs, commented Aug. 14, this is 75 times the total Bitcoin market cap. “It’s time for Plan ₿!” he adds. Whilst currently this phenomenon is limited to certain European countries and Japan, all eyes are on the U.S. Federal Reserve to see if it follows the…

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Bitcoin 

SEC Postpones VanEck Bitcoin ETF, Yet Again. Should We Expect an Approval in 2019?

Yesterday, the United States Securities and Exchange Commission (SEC) postponed its decision on the VanEck/SolidX bitcoin (BTC) exchange-traded fund (ETF) proposal, signaling that the regulator is still not ready to see crypto-based funds being traded on regulated exchanges. However, while the general sentiment is that the agency will continue to push back, there’s a slight chance that a crypto ETF might come as soon as later this year.    What’s an ETF and how can it affect the crypto market?    In short, an ETF is a type of an…

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Bitcoin 

US SEC Postpones Verdict on VanEck and Bitwise ETF Application, Again

The United States Securities and Exchange Commission (SEC) has delayed its decision on the VanEck and Bitwise bitcoin (BTC) exchange-traded fund (ETF) proposal, according to an official SEC filing on May 20. The SEC has added a 35 day period for gathering more information and opinions on the proposal, which was initially filed by the Chicago Board Options Exchange (CBOE) last year. In January, CBOE withdrew its request for a rule change when the U.S. government shutdown decreased the SEC’s operational abilities, then subsequently reapplied on January 31 after the…

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Bitcoin 

US SEC Delays Decision on Bitcoin ETF Applications From VanEck and Bitwise

The United States Securities and Exchange Commission (SEC) has delayed its decision on a rule change to the Securities Act that would allow the listing of Bitcoin (BTC) exchange-traded funds (ETF). The SEC published its decision in a public notice on March 29. Bitwise filed its application with NYSE Arca on Feb. 15 under the condition that it would reach a decision in 45 days. Should the commission feel the need to extend that period, it is permitted to extend the review period to 90 days. Following today’s decision, the…

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Bitcoin 

VanEck, SolidX Make Case for Bitcoin ETF at Latest Meeting With US SEC

The U.S. Securities and Exchange Commission (SEC) has published a memorandum Nov. 28 of the latest meeting regarding a Bitcoin (BTC) exchange-traded-fund (ETF) proposal. The application was originally brought to the commission by U.S. investment firm VanEck and blockchain software and financial services company SolidX. According to the memorandum, representatives from VanEck and SolidX, as well as from the Chicago Board Options Exchange (CBOE) met with members of the SEC’s Division of Corporation Finance, Division of Trading and Markets, Division of Economic and Risk Analysis and Office of General Counsel…

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