VanEck Files Again – This Time at Bitcoin Futures Mutual Fund

VanEck has a history of unsuccessful filing of Bitcoin ETFs thus far. However, after another delay in its current ETF filing, VanEck has decided to file another filing, this time with the Securities and Exchange Commission (SEC), for a new Bitcoin Futures Investment Fund. The new app, called Bitcoin Strategy Fund, will invest in Bitcoin futures contracts as well as exchange-traded products and pooled investment instruments, all of which offer Bitcoin exposure rather than direct investment in the asset. The fund will be led by Gregory Krenzer, deputy portfolio manager for VanEck Commodity Index Strategy. He has been with VanEck since 1994 and has extensive experience in commodities, emerging markets as well as financial markets worldwide. VanEck has a wholly owned subsidiary that operates out of the Cayman Islands and is exposed to Bitcoin futures. According to the VanEck filing prospectus, “The Affiliate has the same investment objective as the fund and will follow the same general investment policy and restrictions, but unlike the fund, it can invest in Bitcoin futures without limitations.” It was pushed back for the second time this year by the SEC, and this final review period lasts 45 days. The SEC is seeking further public comment on the filing before deciding whether to pass a US Bitcoin ETF for the first time. Many Bitcoin ETFs have been rejected by the SEC in recent years. Currently, 8 ETF applications are pending, including Valkyrie Bitcoin Fund, Galaxy Bitcoin ETF, and Greyscale Bitcoin Trust. Outside the US, ETFs get the green light. There are currently several Bitcoin ETFs in Canada, including one that launched on the Toronto Stock Exchange in April. It is managed by Canadian-based mutual fund manager 3iq in partnership with Coinshares. Disclaimer: This article is for informational purposes only. not that

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