VanEck – a $49 billion asset management firm has again filed for a Bitcoin ETF after previously withdrawing its application following multiple rejections by the SEC on the same product.
The New-York based investment company will look to get approval for a Bitcoin Exchange-Traded Fund named “VanEck Bitcoin Trust” haven sent a new notice to the U.S. Securities and Exchange Commission (SEC).
This latest attempt comes on the heels of two withdrawals by the firm as it appeared to make adjustments to its application after the SEC rejected those of other applicants.
VanEck however maintains its commitment to launch a Bitcoin ETF, and if accepted will become the first ETF to get the SEC approval.
Despite its initial disapproval, including rejecting nine ETF applications in a single day in August 2019, the SEC says it remains open to the BTC product.
Details from the ETF application, show the VanECK Bitcoin Trust shares will be traded on the Chicago Board Options Exchange.
The value of the shares will be calculated daily using the price of Bitcoin on the top five exchanges.
Speaking on the Bitcoin ETF product, Director of Digital Assets at VanEck – Gabor Gurbacs notes that the firm is keen on bringing a physical bitcoin ETF to the United States and for global offering.
With BTC getting more mainstream attention, will the US SEC approve this time?