Following the divisive launch of a so-called "Limited ETF" from the fund manager VanEck, the crypto-focused offering has fallen short of impressive, citing just a single issuance of the instrument with a total of 4 BTC under management... The data was relayed via crypto analyst and commentator, Alex Krüger, who pointed out that the net assets held under the Bitcoin Trust 144A Shares, amounted to...
Primarily targeting institutional investors, VanEck and SolidX are reportedly selling a “limited version” of a bitcoin exchange-traded fund (ETF) after every bitcoin ETF proposal has been rejected by the Securities and Exchange Commission (SEC) to date. According to the VanEck SolidX Bitcoin Trust 144A Shares proposal, qualified institutional buyers (QIBs) will be able to purchase publicly quoted...
The bitcoin bulls have wrestled back control of the BTC price, with the leading cryptocurrency barreling for $11,000 once again. While the positive momentum emerged over the weekend, the optimism is no doubt also being fueled by today's VanEck development. The New York-based investment management firm plans to launch a bitcoin fund, which is designed for "qualified institutional buyers," that The...
The U.S. Securities and Exchange Commission (SEC) is delaying its decisions on whether to approve or kill three new bitcoin ETFs. The bitcoin ETF offerings from VanEck, Bitwise, and United States Bitcoin and Treasury Investment have each been under consideration for months, and the SEC is pushing its decision out to the maximum amount of time permitted under federal regulations. Why Isn't The SEC...
By CCN: The U.S. Securities and Exchange Commission has decided once again to kick the can on its decision about a bitcoin ETF. In a ruling published today, the securities watchdog revealed that an answer on the VanEck/SolidX Bitcoin ETF as proposed by the Cboe would be postponed for another 90 days, pushing the deadline back to August 19. The crypto community wasn't shocked by the announcement...
VanEck, the major New York City exchange-traded fund (ETF) provider with $47 billion worth of assets under management, remains confident that despite its fall from above $19,500 to its current mark near $4,000, "Bitcoin is not going away." Bitcoin's Hitting Singles - Not Home Runs In a note to investors Monday, the company's Director for Digital Asset Strategy at VanEck, Gabor Gurbacs, said that...
The prospect of a Bitcoin ETF is ‘virtually certain’ according to finance manager Ric Edelman, who is confident that either VanEck or Bitwise will satisfy the demands of the SEC. The founder of Edelman Financial Engines told CNBC’s Bob Pisani on Monday’s ETF Edge: "It's virtually certain. The only question is when. And I don't know how soon it will the happen; the SEC has several legitimate...
The price of bitcoin is still hovering below the $3,500 mark and volatility seems to be dying fast. Is it strange, then, that SFOX' report (a cryptocurrency prime dealer for large-scale investors) places the Crypto market at ‘mildly bullish’ entering February? This is a couple of notches up from its ‘mildly bearish’ tag last month. Why? The institutional broker-dealer SFOX report collects key...
The Chicago Board Options Exchange (CBOE) and VanEck refiled their Bitcoin exchange-traded fund (ETF) application. But, there likely won’t be a Bitcoin ETF by the end of the year and possibly by the year’s end. On January 31, as CCN reported, VanEck announced that it submitted its newly drafted Bitcoin ETF application to the U.S. Securities and Exchange Commission (SEC). The VanEck SolidX Bitcoin...
US stock exchange operator CBOE has resubmitted its application to list a bitcoin ETF on one of its trading platforms, just days after the firm withdrew its previous bid. CBOE & VanEck Resurrect Bitcoin ETF Bid That bitcoin ETF, the VanEck SolidX Bitcoin Trust, would allow wealthy traders and institutions to invest in bitcoin through a convenient -- and familiar -- investment vehicle. VanEck...
Bitcoin investors are abandoning crypto in favor of traditional commodities like gold amid the prolonged market slump. That's the observation of Jan Van Eck, the CEO of investment management firm VanEck Associates. Van Eck says this is a reversal of the trend he saw in 2017, when the then-sizzling bitcoin pulled demand from gold during the crypto bull market. "I do think that bitcoin pulled a...
By CCN.com: On January 23, the Chicago Board Options Exchange (CBOE) and VanEck officially withdrew their Bitcoin exchange-traded fund (ETF) proposal ahead of its February deadline. Analysts expected a decline in the Bitcoin price following the withdrawal given that the CBOE/VanEck Bitcoin ETF was arguably the most highly anticipated proposal to date. No Visible Impact on the Bitcoin Price On...
By CCN.com: Cboe BZX Exchange has officially withdrawn their Bitcoin Exchange Traded Fund application. Filed last June, the official withdrawal of the application came in on January 22. A letter published on the SEC’s website makes the news official. SEC deputy secretary Eduardo Aleman writes that the Cboe BZX Exchange rescinded its request for a rule change. The change would have allowed it to...
By CCN.com: Investment manager VanEck remains confident about its bitcoin ETF application, despite the US government shutdown. Why? Because the firm believes it has laid a robust foundation for the VanEck/SolidX Bitcoin ETF to eventually win SEC approval. "I have done everything I can to build the right market structure for Bitcoin and digital assets," VanEck's director of asset strategy, Gabor...
A digital asset strategist for New York-based veteran investment management firm VanEck is pretty irate that there is still no exchange traded fund for Bitcoin. In response to a tweet by Matt Odell, who was saying how Coinbase is risking its “regulatory moat” by addition of several altcoins over the past weeks, Gabor Gurbacs (image above), the top executive who is pushing for VanEck’s ETF...
Following recent comments by Allianz CEO Andreas Utermann calling for cryptocurrency to be outlawed, VanEck Head of Digital Assets Gabor Gurbacs has stated that the insurance industry is in greater need or comprehensive regulation than cryptocurrency. In a now-deleted post on his Twitter account, Gurbacs made the point that the behaviour of insurance companies toward investors and customers makes...
Gabur Gurbacs, Director of Digital Assets Strategy at VanEck has expressed optimism over the SEC's impending decision on the long-mooted Bitcoin exchange-traded fund (ETF) proposal by VanEck and SolidX. Speaking to host Brad Smith during an appearance on Cheddar, Gurbacs stated that while the market clearly wants a bitcoin ETF, the only update available is that VanEck believes it has provided...
The Securities and Exchange Commission delayed making a decision on VanEck's bitcoin ETF (exchange-traded fund) application until February 27, 2019. The postponement was largely expected, as 2018 draws to a close amid the ongoing crypto bear market. "The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change...
Earlier this week, US Securities and Exchange Commission (SEC) Chairman Jay Clayton said at a conference in New York that to approve a Bitcoin exchange-traded fund (ETF), the SEC needs to see a market that is free of manipulation. Clayton stated: “What investors expect is that the trading in that commodity that’s underlying the ETF is trading that makes sense, is free from the risk or significant...
Nasdaq — the world's second-largest stock exchange — plans to roll out bitcoin futures in the first quarter of 2019 through a partnership with investment management firm VanEck. Gabor Gurbacs, VanEck's director of digital asset strategy, said the companies will launch a variety of bitcoin derivatives in early-2019, including a "regulated crypto 2.0 futures-type contract." Gurbacs made the...
A bitcoin ETF could attract billions of dollars in new investments, so the Securities and Exchange Commission (SEC) should treat pending proposals as an opportunity to regulate the crypto market, said crypto exchange-traded fund advocate Gabor Gurbacs. Gurbacs, the director of Digital Assets Strategy at VanEck, made this claim during an interview with CNBC Africa's Crypto Trader. The comments...
BlackRock — the world’s largest asset manager and ETF provider — has slowly been warming to crypto, but will not launch a bitcoin exchange-traded fund (ETF) until the industry becomes "legitimate," said CEO Larry Fink. "I wouldn't say never — when it's legitimate, yes," Fink said at the New York Times Dealbook conference, as reported by CNBC. "It will ultimately have to be backed by a government...
At a meeting with the US Securities and Exchange Commission (SEC) commissioner Elad L. Roisman, representatives from SolidX, VanEck, and CBOE presented five major reasons why the commission should approve the Bitcoin exchange-traded fund (ETF) filing of VanEck and SolidX. VanEck, an investment management firm headquartered in New York that has decades of track record in the traditional finance...
Earlier this month, representatives from options exchange CBOE, fund provider VanEck, and blockchain startup SolidX met with top Securities and Exchange Commission (SEC) brass, and -- unsurprisingly -- the group’s pending bitcoin ETF application was at the top of the agenda. Bitcoin Market Reaching Maturity In the meeting, which was held on Oct. 9, VanEck and SolidX made their case to SEC...
The U.S. Securities and Exchange Commission (SEC) announced on Thursday that has begun a formal review process for the physically-backed bitcoin ETF proposed by VanEck and SolidX. According to the order dated Sept. 20 and published on the SEC’s website, the regulatory agency will now consider whether, pursuant to federal securities guidelines, it should approve the fund -- the VanEck Solidx...
The founder of Bitcoin payment startup Abra, Bill Barhydt has stated that he believes that a bitcoin ETF will be approved within a year, as long as the SEC feels sufficiently comfortable with the caliber of applicants trying to get permission. Speaking to CNBC, Barhydt stated that the SEC's refusal to grant permission to a series of bitcoin ETF applications so far is mainly down to the fact that...
As cryptocurrency exchange BitMEX initiated its scheduled maintenance on August 22, the Bitcoin price surged by 4 percent, during a period in which crypto traders could no longer short the dominant crypto. Analysts have stated that the strong rally of Bitcoin in the two-hour period during which BitMEX was temporarily down was not a coincidence. Was Bitcoin Market Manipulated? BitMEX is arguably...
CNBC Fast Money contributor and BKCM CEO Brian Kelly has firmly emphasized that while bitcoin has seen a massive decline in price over the last 24 hours, investors selling the dominant cryptocurrency based on the delay of SEC in approving the first bitcoin ETF are doing it wrong. Bitcoin Drops 12% While EOS, Bitcoin Cash and Other Tank 20%+ Over the last 48 hours, the crypto market lost $29...
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the VanEck/SolidX Bitcoin ETF until September 30, 2018, according to an official document released by the Commission. This notice comes some days after Van Eck sent a 13-page report to the SEC where it addressed concerns cited as reasons for rejecting a similar ETF floated by both companies last year. The...
Canaccord, the biggest investment firm in Canada, has said that the approval of a Bitcoin exchange-traded fund (ETF) is highly unlikely in 2018. In an official report entitled “Blockchain and Digital Assets: US Equity Research” Canaccord researchers Michael Graham and Scott Suh wrote: “And although the VanEck SolidX Bitcoin Trust, seen by many as the most formidable candidate for a potential...
Money management firm VanEck has responded to the SEC's concerns over bitcoin exchange-traded funds (bitcoin ETF) in a letter to the regulator made public on the agency's website. Addressed to Dalia Blass, director of the SEC's division of investment management, the letter tackles the five points of order from the SEC's previous communication with the industry, namely: valuation, liquidity...
The U.S. Securities and Exchange Commission (SEC) has formally issued a call for public comment on yet another proposal to list a bitcoin ETF (exchange-traded fund) on a regulated exchange. VanEck, SolidX Partner to Create Physically-Backed Bitcoin ETF This development came in response to a proposal, submitted by Chicago-based derivatives exchange CBOE, to list and trade shares of SolidX Bitcoin...
Money management firm VanEck has filed for a bitcoin ETF despite claiming that the digital currency was a 'fad.' Regardless of the recent user activated hard fork (UAHF), which saw the creation of bitcoin cash, bitcoin's value has soared. Over the weekend, the digital currency jumped to over $4,000 for the first time, quadrupling its value since the beginning of 2017. However, despite claims that...