🔥 Hot News: VanEck CEO says its spot Bitcoin ETF will trade on Thursday
VanEck's CEO has disclosed that the company foresees the introduction of its spot Bitcoin exchange-traded fund (ETF) on Thursday. This aligns with the industry-wide expectation that the U.S. Securities and Exchange Commission (SEC) is nearing approval for such products. Asset managers, including Valkyrie Investments, are swiftly filing updated forms as they approach potential SEC approval for physical Bitcoin ETFs.
Valkyrie Investments expresses optimism about a timely decision, anticipating SEC confirmation by the close of business on Wednesday. They envision trading to commence on Thursday morning, echoing the proactive stance of other companies in the industry.
In response to the SEC's final comments, VanEck, along with other ETF issuers, promptly submitted a revised Form S-1 on Tuesday morning. This filing includes minor adjustments, such as a description of the insolvency of an Authorized Participant or Bitcoin Counterparty.
Bloomberg Intelligence ETF analyst Eric Balchunas highlighted the industry's concerted effort to expedite the project launch. He noted that the quick turnaround between submission and resubmission, completed within 24 hours, underscores the collective dedication to moving the project forward. The next steps involve the SEC approving each fund's Form 19b-4 before the Form S-1 or registration statement can take effect.
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