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VanEck’s Bitcoin ETF Application Gains Traction, Awaits Final SEC Verdict

The first American Bitcoin exchange-traded fund might hit the market this year. Investors are keeping their fingers crossed following a recent update from the US Securities and Exchange Commission in which VanEck’s ETF was acknowledged.

VanEck’s Bitcoin ETF stands a chance

As seen on the official SEC website, VanEck’s ETF is among a list of other applications. It reads:

“2021 Notice of Filing of a Proposed Rule Change to List and Trade Shares of the VanEck Bitcoin Trust, under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares”.

The application will go through thorough examination as the SEC makes a decision on whether the ETF meets its standards or not. After a 45 day period, the SEC will disclose its ruling.

Grayscale might give VanEck a run for its money

As we recently reported, Grayscale sparked rumors of launching a Bitcoin ETF in the United States after a number of ETF-related job postings were made on its website. The positions suggested that the investment firm is making plans to introduce investors in the United States to its first-ever Bitcoin ETF, but not before consulting and getting permission from the SEC of course.

In a previous interview, the CEO Michael Sonnenshein gave industry players a reason to remain hopeful when he hinted at the possibilities, saying that it was all dependent on regulators and how favorable their policies are.

Excerpts of his statement reads:

“When we get the signal that perhaps they have greater comfort and have seen some of [the] elements in …
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