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Bitcoin ETF: The VanEck-Light Version and its signal effect

After a so far unsuccessful struggle with the U.S. securities and exchange Commission has decided in the Blockchain-company VanEck, to throw a kind of Light Ver

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Bitcoin ETF: The VanEck-Light Version and its signal effect

After a so far unsuccessful struggle with the U.S. securities and exchange Commission has decided in the Blockchain-company VanEck, to throw a kind of Light Version of their Bitcoin ETF on the market. Observers hope for a signal effect to the authority.

By Phillip Horch
12. September 2019BTC$10.305,43 2.56%part Facebook Twitter LinkedIn xing mail

And Groundhog day. The negotiations with the U.S. securities and exchange Commission for a possible Bitcoin Exchange Traded Fund (ETF) are regularly warmed up, a little progress there is. The path to an authorisation, however, seems still far away. However, the new Light Version of the home VanEck could show the Securities and Exchange Commission (SEC) that the System works.

VanEck Bitcoin ETF: Nothing for aunt Lieschen

In an Interview with the financial magazine, CNBC, Jan Van Eck, managing Director of VanEck first emphasized repeatedly that it is the current Version of the Bitcoin ETF to be an exclusive Version. This is tailored to institutional investors, aunt Mary and Otto normal consumer will not be able to invest accordingly:

[The ETF] is not Over-the-Counter [OTC] or on the regular stock exchanges available. Only qualified investors can invest [...]. It must be an Institution [...]. The can be companies, banks or hedge funds. You can theoretically put on a ETF and the Fund VanEck shopping.

To the Public of the Bitcoin ETF can't be sold, however, here is an admission by the SEC is still missing. And it hard sometimes. So, it is mainly the unregulated nature of the crypto-Ecosystem, which is the SEC to Worry about.

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These Concerns can not understand VanEck, however. He stressed that VanEck draws its courses, for Bitcoin only from regulated companies:

We have made great progress. The courses for our [...] ETF come from three brokers from the USA. Are regulated, either directly or indirectly. [...] They are regularly reviewed. Here there is no misconduct.

the current Version of the ETF are expected to provide the CEO of the company, first of all, the crypto-world with the traditional financial world, to bring together:

The crypto-world, and the Exchanges are completely unregulated. And the traditional world may be thinking: I don't want to see me, I don't want to know. [...] There are two worlds that are completely isolated from each other. We try, there's a connection.

Chris Hempstead, a Managing Principal at ETF Consulting, sees a possible signal effect of the ETFs in the same Interview. The System works with institutional investors, Hempstead, could convince the SEC may: "I believe in Proof-of-Concept. If this works, this is a step in the right direction. [...] Maybe we will see a Bitcoin ETF for Retail investors.“

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