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Bitcoin ETFs planned by two investment firms

VanEck and SolidX are planning to trade Bitcoin exchange-traded funds (ETFs) together, with the former acting as a service provider, while the latter - as a principal sponsor of the endeavor. According to business outlets, the necessary filings are already sent to the United States Securities and Exchange Commission.

The press notes that the initiative can easily be overturned by the SEC - this is based on the previous actions of the regulator. For example, the Winklevoss brothers did not succeed to register their own version of Bitcoin ETFs last year.

VanEck CEO Jan van Eck has characterized Bitcoin as a golden opportunity for trading:

“I believe that Bitcoin has emerged as a legitimate investment option, as a type of ‘digital gold’ that may make sense for investors’ portfolios.”

At the same time, the representatives of both companies note that they are working at some mechanisms of investor protection.

09-11-2017 21:00:00  |   News

Last year, Reginald M. Browne (investor also known as ‘Mr. ETF’ for his knowledge of the sphere) has stated that we are years away from working Bitcoin exchange-traded funds. Meanwhile, Russian investment companies are open to any kind of Bitcoin derivatives as long as regulators allow it - as implied by Deputy Head of fiat exchange platform FINAM Yaroslav Kabakov at a recent conference dedicated to cryptocurrencies.

Image: stock photo

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