Asset manager VanEck has refiled to the US Securities and Exchange Commission (SEC) an application to launch a Bitcoin ETF.
The decision comes more than a year after the company withdrew its last application (September 2019). VanEck has attempted several times to receive regulatory approval for this product, however, it has been unsuccessful so far.
Now, VanEck has just filed a new S-1 form for another fund, the VanEck Bitcoin Trust.
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According to the application, the shares of this fund will be traded on the Cboe BZX Exchange. They will be valued daily according to the Bitcoin price on the 5 major BTC exchanges, which will be calculated by affiliate firm MV Index Solutions.
The proposed maximum aggregate offering price, which is the number of securities multiplied by the price of each security, amounts to $1M.