Its amended filing listed the service providers that would assist in launching its ETF, including crypto exchange Gemini, which would provide custody for the Trust's Bitcoin holdings.īy the end of that month, the application was officially under review by the SEC, which subsequently delayed its decision on the filing to July 27, 2021. The financial services company made a second stab at a Bitcoin ETF in April 2021, with the revised proposal for the Trust to be listed on Cboe’s BZX Exchange. On this occasion, the SEC invited the public to comment on whether the filing would be vulnerable to manipulation, whether the crypto industry has changed since 2016, and if Bitcoin is transparent.ĭelaware-based Kryptoin made its first attempt at filing for a Bitcoin ETF in October 2019, with the proposed Kryptoin Bitcoin ETF Trust to be listed on NYSE Arca. The SEC has repeatedly pushed back its decision on VanEck's second Bitcoin ETF filing, with the most recent delay putting the deadline back as late as August. However, if VanEck thought that new blood at the SEC would mean a change in its position, they were in for a disappointment. In a 2019 interview with CNBC, Clayton had been dismissive of the prospects of a Bitcoin ETF, noting that while there had been "progress" on concerns around custody, that crypto is still vulnerable to price manipulation, and that overseas exchanges "do not provide the same level of protection as our U.S. Notably, VanEck filed its second application mere days after former SEC chair Jay Clayton left his position. While that application was withdrawn in September 2019, VanEck made a second attempt at getting a Bitcoin ETF off the ground, filing its application for the VanEck Bitcoin Trust with the SEC in December 2020, with shares of the trust set to trade on the Cboe BZX Exchange. Its first stab at a Bitcoin ETF-the VanEck SolidX Bitcoin Trust, in partnership with SolidX-came all the way back in 2018. VanEck is one of the earliest Bitcoin ETF applicants still in play.
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