Outside Source
James Seyffart, an analyst at Bloomberg Intelligence, reports that the American asset manager, VanEck, has submitted their fifth S-1 Amendment for their spot Bitcoin ETF.
The updated filing reveals their ticker $HODL.
Seyffart also described a few highlights in the amendment, including the create or redeem language within the S-1 filings encompasses both in-kind and cash, which he suggests may be a trend in retaining this optionality.
However, at the same time, Seyffart noted that 19b-4 approvals might initially limit creations to cash, pending potential updates for confirmation. For this reason, there is still ongoing anticipation for further clarity.
At the end of October, VanEck submitted an amended application for a spot Bitcoin ETF to the U.S. SEC. It presented revised filings related to its fund seeding in what was said to be a move different from other applicants in the spot Bitcoin ETF market.
At the time, this amendment aligned with a broader trend of revised applications for spot Bitcoin ETFs. In the previous month,
Bitwise Asset Management similarly amended its application to address concerns raised by the SEC, followed by ARK Invest and 21Shares.
As the community awaits further updates in the spot Bitcoin ETF race, investors have been quick to cling to any promising news, spurring on Bitcoin (BTC) prices.
At the time of writing, Bitcoin was trading at $43,950, up over 14% in 24 hours.
This article first appeared at crypto.news
