VanEck Submits Fifth Amendment for Bitcoin ETF
Analyst James Seyffart from Bloomberg Intelligence reports that VanEck, the American asset manager, has filed their fifth S-1 Amendment for their spot Bitcoin ETF. This latest filing reveals their ticker symbol as $HODL.
The amendment includes language that allows for both in-kind and cash creation or redemption, indicating a trend in retaining this optionality. However, Seyffart points out that initial approvals may limit creations to cash, pending further updates for confirmation.
Revised Applications for Spot Bitcoin ETFs
In October, VanEck submitted an amended application for a spot Bitcoin ETF to the U.S. SEC. This move aligned with a broader trend of revised applications by other applicants in the market, such as Bitwise Asset Management, ARK Invest, and 21Shares. These amendments aimed to address concerns raised by the SEC.
Awaiting Further Updates
As the community eagerly awaits updates on the spot Bitcoin ETF race, any positive news has been driving up Bitcoin prices. At the time of writing, Bitcoin was trading at $43,950, reflecting a 14% increase in the past 24 hours.
Hot Take: Positive Momentum for a Bitcoin ETF
The submission of VanEck’s fifth S-1 Amendment for their spot Bitcoin ETF is another step forward in the pursuit of a regulated Bitcoin exchange-traded fund. The inclusion of both in-kind and cash options in the filings shows an evolving approach by asset managers to provide flexibility for investors.
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