VanEck continues to push for U.S.-based Bitcoin product, files for Bitcoin futures By BTC Peers

© Reuters. VanEck continues to push for U.S.-based Bitcoin product, files for Bitcoin futures

Asset management giant VanEck is relentless on its mission to launch a U.S.-based product despite multiple delays from the United States Securities and Exchange Commission. The investment manager has filed for yet another Bitcoin product, this time looking to launch a mutual fund that invests in “certain” Bitcoin futures.

The filing comes days after the SEC postponed its decision on rejecting or accepting the firm’s pending Bitcoin ETF application. According to the new application, the proposed Bitcoin Strategy Fund would invest in Bitcoin futures contracts through its Cayman Islands-based subsidiary. That being said, the fund will not directly invest in Bitcoin or other digital assets.

The Fund seeks to achieve its investment objective by investing, under normal circumstances, in bitcoin futures contracts (“”), as well as pooled investment vehicles and exchange-traded products that provide exposure to bitcoin (together with Bitcoin Futures, “Bitcoin Investments”). The Fund does not invest in bitcoin or other digital assets directly.

As reported by BTC PEERS, VanEck has submitted applications for both Bitcoin and exchange-traded funds earlier this year. The U.S. financial watchdog is yet to approve any of the filings. Instead, the SEC initiated a process to seek additional comments regarding VanEck’s Bitcoin ETF proposal.

Continue reading on BTC Peers

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button