VanEck CEO says spot Bitcoin ETF will trade on Thursday: CNBC
VanEck’s CEO said his company’s spot Bitcoin exchange-traded fund will begin trading on Thursday, in line with other companies expecting the Securities and Exchange Commission to approve their products tomorrow.
“You believe it will start trading on Thursday.” CNBC the host asked on Tuesday morning.
“Yes,” said CEO Jan van Eck.
Asset managers have been competing for a spot Bitcoin ETF for months, and updated forms have been filed quickly as the possibility of receiving approval from the SEC for the first U.S. spot Bitcoin ETF moves closer.
Valkyrie Investments also expects to make a decision soon. the block They expect the SEC to deem the ETF effective at the end of the business day Wednesday and for trading to begin Thursday morning.
revised document
Also Tuesday morning, VanEck joined other ETF issuers in filing filings. Modified Form S-1 to process final comments from the SEC. There were some minor changes to the form, including language. If an Authorized Participant or Bitcoin counterparty experiences bankruptcy.
The next step is for the SEC to approve a Form 19b-4 for each fund, and then the Form S-1 or registration statement must become effective. Those things can happen one after the other.
Bloomberg Intelligence ETF analyst Eric Balchunas said Tuesday morning that 24-hour trading in turn around The time between submissions, comments and resubmissions shows that all parties involved are “aiming to get this show on the road immediately.”
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
About the author
Sarah is a reporter for The Block covering policy, regulation and legal events. She was previously a reporter writing about securities regulation at CQ Legal, where she first began her reporting on cryptocurrencies. She Sarah has also written for The Bond Buyer and American Banker, among other financial publications. She graduated from the University of Missouri with a degree in Print and Digital Journalism. Sarah lives in Washington, DC and she is an avid coffee lover. You can follow her on Twitter @ForTheWynn.
