💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadUnlock them all

VanEck-SolidX Bitcoin ETF Close to Gaining SEC Approval, Exec Says

Published 11/02/2018, 05:51 AM
Updated 11/02/2018, 07:00 AM
© Reuters.   VanEck-SolidX Bitcoin ETF Close to Gaining SEC Approval, Exec Says
BTC/USD
-

The Bitcoin (BTC) exchange-traded fund (ETF) proposed by money management group VanEck and crypto startup SolidX is close to obtaining a regulatory nod from the US Securities and Exchange Commission (SEC), according to Gabor Gurbacs, VanEck head of digital asset strategies.

“We are the closest that we can be. It is very clear to me that America wants a bitcoin ETF and we are here to build it. We are waiting for regulatory feedback and we are hoping that we get the thumbs up,” Gurbacs told Fox Business on Wednesday.

He added that the proposed VanEck-SolidX ETF is insured and physically backed by Bitcoin, priced by VanEck’s regulated subsidiary pricing source, MVIS, and meets “every requirement that commodity type of fund would need.”

SolidX filed for a Bitcoin ETF to be listed on the New York Stock Exchange (NYSE)...


This article appeared first on Cryptovest

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.