FYI: MVIS, a subsidiary of the ETF provider VanEck, has been persistent in its attempt of launching a Bitcoin ETF having made numerous applications to the US Securities and Exchange Commission. There is still an application waiting for a response by the SEC. The reason it has been rejected every time is due to the extreme volatility the cryptoasset market is facing, but also thanks to uncertainty around the custody arrangements involved in holding bitcoin. (Bitcoins are typically held in a “bitcoin wallet”, yet that type of custody arrangement is not quite satisfactory for institutional investors or the SEC).
The market faced a crash last week, with majority of the leading coins falling to their lowest prices of the year so far.
Regards,
Ted
http://www.etfstream.com/news/5311_vaneck-edges-closer-to-a-bitcoin-etf
