{"id":10841,"date":"2021-08-11T20:54:44","date_gmt":"2021-08-11T20:54:44","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/vaneck-files-for-bitcoin-futures-etf-following-sec-chairs-btc-futures-regulation-statements\/"},"modified":"2021-08-11T20:54:44","modified_gmt":"2021-08-11T20:54:44","slug":"vaneck-files-for-bitcoin-futures-etf-following-sec-chairs-btc-futures-regulation-statements","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/vaneck-files-for-bitcoin-futures-etf-following-sec-chairs-btc-futures-regulation-statements\/","title":{"rendered":"Vaneck Files for Bitcoin Futures ETF Following SEC Chair\u2019s BTC Futures Regulation Statements"},"content":{"rendered":"

Following a number of statements this week from the U.S. Securities and Exchange Commission\u2019s (SEC) Gary Gensler, wealth management firm Vaneck has filed for a bitcoin futures exchange-traded fund (ETF).<\/strong><\/p>\n

Vaneck Files for a Bitcoin Futures-Focused Fund Called the Bitcoin Strategy ETF<\/h2>\n

On August 10, the wealth manager Vaneck filed an application with the SEC in order to list the \u201cBitcoin Strategy ETF,\u201d a fund that seeks \u201ccapital appreciation.\u201d The fund will be an actively managed ETF that leverages bitcoin futures, pooled investment vehicles, and other ETFs that provide exposure to bitcoin (BTC)<\/a>.<\/p>\n

The latest Vaneck bitcoin ETF filing<\/a> stresses: \u201cThe Fund does not invest in bitcoin or other digital assets directly.\u201d The Bitcoin Strategy ETF will utilize bitcoin futures under the laws of the Cayman Islands, and it may also invest in \u201cETFs listed and traded in Canada, and exchange-traded products that provide exposure to bitcoin through the subsidiary.\u201d<\/p>\n

Vaneck currently commands $63 billion in assets under management (AUM) and has been involved with bitcoin (BTC<\/a>) for quite some time. At the end of June, Vaneck applied<\/a> with the U.S. regulator to launch a bitcoin mutual fund, and the company is also hoping for approval for another bitcoin ETF that was filed back<\/a> in December 2020.<\/p>\n

Vaneck is further shooting to provide<\/a> an ethereum (ETH)<\/a> exchange-traded fund as well. Last week, SEC Chair Gary Gensler outlined<\/a> the regulator\u2019s plans to regulate crypto assets and discussed crypto ETFs. Gensler\u2019s statements seemed optimistic in regard to crypto ETFs when he said he looks \u201cforward to the staff\u2019s review of such filings, particularly if those are limited to these CME-traded bitcoin futures.\u201d<\/p>\n

<\/p>\n

Investment Company Act of 1940 and Current Bitcoin Futures Regulations Could Bolster a Futures-Centric Crypto Fund<\/h2>\n

Vaneck executive Gabor Gurbacs tweeted<\/a> about the ETF filing on Tuesday and noted the company was the \u201cfirst to file for a futures-based bitcoin ETF in 2017.\u201d Members of the industry believe that CME\u2019s bitcoin futures have been regulated for quite some time and because of Gensler\u2019s latest statements, a bitcoin futures ETF may see the first approval.<\/p>\n

When Gensler said he looks forward to regulators reviewing ETFs that are particularly associated with bitcoin futures, he mentioned the U.S. Investment Company Act of 1940 as possibly being sufficient enough for regulation.<\/p>\n

Vaneck\u2019s Bitcoin Strategy ETF explains that the fund is a \u201cnon-diversified fund under the Investment Company Act of 1940, as amended (the \u20181940 Act\u2019), and, therefore, may invest a greater percentage of its assets in a particular issuer.\u201d Gensler has also written a letter<\/a> to U.S. Senator Elizabeth Warren in regard to her concerns<\/a> over cryptocurrency regulation.<\/p>\n

What do you think about Vaneck\u2019s latest crypto ETF filing? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nFinance, 1940 Act, Bitcoin Futures ETF, CME\u2019s bitcoin futures, Elizabeth Warren, Futures ETF, Gabor Gurbacs, Gary Gensler, Investment Company Act of 1940, Regulation, SEC, sec chair, vaneck, Vaneck Bitcoin Futures ETF, Vaneck ETF, Wealth Management Company, wealth manager<\/p>\n","protected":false},"excerpt":{"rendered":"

Following a number of statements this week from the U.S. Securities and Exchange Commission\u2019s (SEC) Gary Gensler, wealth management firm Vaneck has filed for a bitcoin futures exchange-traded fund (ETF). Vaneck Files for a Bitcoin Futures-Focused Fund Called the Bitcoin Strategy ETF On August 10, the wealth manager Vaneck filed an application with the SEC…<\/p>\n","protected":false},"author":0,"featured_media":10842,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-10841","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10841"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=10841"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10841\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/10842"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=10841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=10841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=10841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}