VanEck Investment Manager Launches New Bitcoin ETF American …

VanEck Investment Manager Launches New Bitcoin ETF

An American investment manager is about to launch a tradable index fund (ETF) pegged to the bitcoin rate. About this reports CoinDesk.

VanEck is going to create "VanEck Vectors Bitcoin Strategy ETF" with the aim of him adding to the Nasdaq exchange.

VanEck Investment Manager Launches New Bitcoin ETF American ...

According to the preliminary program, published on August 11, the fund will not invest in bitcoin directly like this done in the case of other ETFs tied to cryptocurrency. Instead of this they are intend buy share in trees and financial products that provide access to the bitcoin market.

The registration statement states: “The Fund intends to gain access to investment objects by investing at normal circumstances in traded on exchanges in the territory USA derivative instruments linked to bitcoin, as well as united tools and traded on exchanges products, opening access to bitcoin “.

Investment Manager VanEck Launches New Bitcoin ETF American ...

However, ETFs are not will be limited to stocks tied to bitcoin. Besides of this, the fund will invest in US government debt and cash funds market.

it statement sounds against the backdrop of growth activity in the field of cryptocurrency derivatives. Last month, the US Exchange Trading Commission granted a license to provide clearing and custody services for cryptocurrency derivatives startup LedgerX, and the Chicago Options Exchange is going to launch a similar product before the end of the year.

We will follow up themes, approve whether The US Securities and Exchange Commission took this initiative because in last thing time regulator started show significant interest in the field cryptocurrencies.