VanEck Files for Bitcoin ETF Registration with SEC: A Crypto Revolution

• VanEck Takes Significant Step in Pursuit of Spot Bitcoin ETF
• VanEck's Recent Activities Towards Bitcoin ETF
• Similar Moves from Fidelity and Grayscale
• The Probability of Approvals by the SEC

VanEck Takes Significant Step in Pursuit of Spot Bitcoin ETF

In a move mirroring recent activities, VanEck has officially registered securities with the US Securities and Exchange Commission (SEC) for its proposed Spot Bitcoin$42,260 -0.64% ETF. This action appears to be a critical milestone, following in the footsteps of other potential issuers such as Fidelity and Grayscale. There are more than a dozen parties vying to be the first to offer an approved Spot Bitcoin ETF in the United States, and VanEck is among them.

The registration indeed suggests that approval is increasingly likely, especially with the impending deadline for a decision next week.

VanEck's Recent Activities Towards Bitcoin ETF

During the final months of 2023, there was a heightened sense of expectation around the introduction of a Spot Bitcoin ETF in the United States. It reached peak levels, despite whispers of potential rejections for the dozen-plus applications submitted. Nevertheless, this optimism continues into the new year.

Several prospective issuers are now at a critical stage of the process. In line with this, VanEck has formally registered securities with the SEC for its Spot Bitcoin ETF. This filing is among many others made public as the race for the ETF reaches its final phase.

Similar Moves from Fidelity and Grayscale

Asset management firms Fidelity and Grayscale have also completed comparable filings with the SEC. On another note, Goldman Sachs is amongst the organizations aiming for a significant role in these emerging investment products. The renowned bank has sought to be the Authorized Participant (AP) of both BlackRock and the previously mentioned Grayscale ETFs.

The Probability of Approvals by the SEC

These advancements certainly highlight the growing likelihood of approvals from the SEC. Also, industry experts predict that the targeted date for such approvals falls between January 8th and 10th. Regardless, a decision should be made by the time this deadline arrives.

Edited by Jonathan Stoker