After two withdrawals of the proposal, VanEck resubmitted the Bitcoin ETF application to the SEC

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VanEck, an investment management company, announced that it has filed a registration form with the US Securities and Exchange Commission (SEC) to activate the VanEck Bitcoin Trust. If the application is approved, it will become the first Bitcoin ETF approved by the US SEC.

This is not the first time VanEck has submitted a Bitcoin ETF application. Previously, the company had applied for similar products twice, and then withdrew both.

Initially, CBOE withdrew its application for listing and trading VanEck SolidX’s Bitcoin ETF product in early January 2019. At that time, no reason for withdrawal was given in the documents issued by the SEC. Subsequently, VanEck claimed to continue to submit applications.

As of February last year, VanEck resubmitted the Bitcoin ETF application, adding 30 pages. In this document, the company describes the “extensive consultations” that have been conducted since June 2018, including the learning and findings of meetings with regulators and marketers, and a core analysis of why Bitcoin is ready for ETFs .

After VanEck submitted the application, the SEC delayed its decision many times until it finally set the deadline for the decision to be October 18. However, by mid-September, VanEck again withdrew the application.

In response to VanEck’s withdrawal of the Bitcoin ETF application, SEC commentator Jack Chervinsky said at the time that (VanEck) may think that the SEC will reject the product next month, and said that “There may not be a Bitcoin ETF proposal in 2019. by”.

According to previous reports, in addition to VanEck, entities such as asset management company Bitwise and cryptocurrency exchange Gemini have submitted such applications, but no company has been approved.