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VanEck recently filed an amended application with the U.S. Securities and Exchange Commission (SEC) in its pursuit of a spot Bitcoin exchange-traded fund (ETF). The amended filing reveals that an unnamed seed capital investor acquired 50,000 shares of the proposed ETF using Bitcoin in October. The MarketVector Bitcoin Benchmark Rate was used to determine the valuation of these Bitcoin holdings. This filing follows similar amendments to ETF applications from Bitwise Asset Management, ARK Invest and 21Shares, and BlackRock. A spot Bitcoin ETF is a financial product designed to provide investors with exposure to the real-time market price of Bitcoin, allowing them to trade and invest in the cryptocurrency without directly owning it. The SEC has repeatedly postponed or rejected the approval of spot Bitcoin ETFs due to concerns related to market manipulation, investor protection, and regulatory oversight. #VanEck #ETF #Bitcoin #SEC
You can read more about this topic here: Decrypt: VanEck Amends Spot Bitcoin ETF Application, Signals Unique Seeding Approach
