VanEck files again – this time on Bitcoin Futures Mutual Fund

VanEck files again – this time on Bitcoin Futures Mutual Fund

“VanEck has a history of filing for a Bitcoin ETF, thus far without success. However, after yet another delay in the current ETF filing, VanEck has decided to file again with the Securities and Exchange Commission (SEC), and this time for a new Bitcoin Futures Mutual Fund. 
The new filing, called the Bitcoin Strategy Fund, will invest in Bitcoin futures contracts and also exchange-traded products and pooled investment vehicles that all offer exposure to Bitcoin rather than direct investment in the asset. 
The fund will be managed by Gregory Krenzer, the deputy portfolio manager at the VanEck Commodity Index Strategy. He has been with VanEck since 1994 and has much experience in commodities, emerging markets, and also financial markets globally. 
VanEck has a fully-owned subsidiary operating out of the Cayman Islands, that will give it exposure to Bitcoin futures. According to the VanEck filing prospectus: 

“The subsidiary has the same investment objective as the fund and will follow the same general investment policies and restrictions, except that unlike the fund, it may invest without limit in Bitcoin futures,” 

The current VanEck ETF filing has been pushed back by the SEC for the second time this year, and this latest review period is to last 45 days. The SEC is requesting more public comments on the filing before making up its mind on whether to pass a US Bitcoin ETF for the very first time. 
Many Bitcoin ETFs have been rejected by the SEC in the past few years. Currently there are 8 ETF filings under consideration, which include the likes of the Valkyrie Bitcoin Fund, Galaxy Bitcoin ETF, and the Greyscale Bitcoin Trust.  
Outside of the US, ETFs are being given the green light. Canada now has several Bitcoin ETFs, including one that launched on the Toronto Stock Exchange in April. This is managed by Canada-based investment fund manager 3iq in partnership with Coinshares.  
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. “

Source: Crypto Daily™

Bitcoin investments are exciting – but what about taxes and the tax office?

If you invest in digital currencies, you invest in decentralised investments that organise themselves through millions of investors ¬ across all national borders. Bitcoin&Co have no national identity, they are the currency of the digital age. The difference is that the buyers or sellers of cryptocurrency usually have a passport

Kickstarter To Launch a Blockchain Project Running on Celo

Kickstarter, the world’s most famous crowdfunding platform, wants to dive headfirst into the blockchain world, changing the technology behind its business model while still offering the same user experience. The firm explained in an official blog post that this decision is part of an effort to find better tools to

Animoca Brands’ treasury increased in value by 5X over two months

The firm has enjoyed tremendous success from its early plays on NFT game platforms and metaverses that provide digital equity to its users. Metaverse and blockchain gaming firm Animoca Brands has revealed that its treasury increased in value by more than five times in just two months. Other income, which