Bitcoin News Regulation

VanEck introduced a financial bitcoin product for institutional investors


VanEck Associates Investment Management Company CEO Jan Van Ek said the company is ready to offer its customers a new type of financial product based on bitcoin.

According to him, the product offered by the company is a traded brokerage fund and is currently not available for ordinary investors, but only for institutional ones. Van Ek also said that he will be trading on an over-the-counter platform, and not on the national stock exchange. This product is called VanEck SolidX Bitcoin Trust 144A Shares.

Qualified investors who are eligible to purchase the product must be an institution with a capital of $ 100 million

“No private investor, even fabulously rich, can purchase this product. It should be an institution, corporation, bank, hedge fund, mutual fund or mutual investment fund, ”Van Ek said.

Separately, Van Ek touched on the regulation of cryptocurrencies and traditional exchanges. According to him, VanEck Associates is trying to bridge the gap between the traditional financial sector and what it considers to be a largely unregulated cryptocurrency sector.

Most recently, a version of Bitcoin ETF was presented for a limited circle of investors, which so far has not gained success. Some experts believe that such a product is not a full-fledged Bitcoin ETF, which is still under consideration by the SEC.


Related posts

Australian Gold Coast Mayor Suggests Using Cryptocurrencies for Tax Payments

Joseph Alalade

Bitcoin Surprises Rising 7% in the Last 24h

Jai Hamid

Airdrops Will Be Subject to Donation Tax in South Korea

Joseph Alalade