Investment management company VanEck managed to add only 4 bitcoins to its bitcoin trust, launched at the end last week and focused on institutional investors. This is evidenced by the information on VanEck’s own website.
Bitcoin Trust VanEck raised $ 41,000 in investment in its early days
“Since its launch, the VanEck Bitcoin Trust for Institutional Investors has managed to issue a whole basket. This is 4 bitcoins or $ 41,400 in assets under management. Nice, “- writes analyst Alex Kruger.
Subsequently, a number of critics, in including lawyer Jake Chervinsky, said that the product presented by VanEck is too different from an ETF to call it that, and the term “limited ETF” does not exist in the legal classification.
“This is misinformation. VanEck SolidX Bitcoin Trust is not an ETF. It looks exactly like the Grayscale Bitcoin Trust, which has been launched for almost 6 years ago“, – wrote then Chervinsky.
Commenting on the poor performance early on, Kruger noted, “This trust is just a poor launch of a product that isn’t in much demand.”.
By mid-October, the Commission on Valuable US securities and stock exchanges (SEC) must make final decision on admittance to trading of this Bitcoin ETF VanEck SolidX.
“I believe the bitcoin ecosystem is slowly evolving towards supporting institutional-quality products,” VanEck’s head of strategy for industry wrote this Tuesday. digital assets Gabor Gurbach under the recent speech of the SEC chairman.
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