VanEck Files New Application for Spot Bitcoin ETF
— Commodity, Unregulated, Underlying futures market, Copper, Approving, Bitcoin, Underlying, Including gold, Previously approved spot etps, Commission relied — 1 min read
VanEck says spot ETPs are generally unregulated. The agency says it relied on underlying futures market as the regulated market of significant size that formed the basis for approving the series of Currency and Commodity-Based Trust Shares, including gold, silver, platinum, palladium, copper, and other commodities and currencies. VanEcks says it has previously approved spot contracts for spot commodities and currency markets for which it has approved spot ETSs are not regulated. The firm says spot contracts are more regulated than futures markets for such ETP’s products, such as gold and silver, silver and platinum. The ETP says it will be available to investors in the U.S. for up to $1.1 billion. Source