VanEck CEO asked the SEC to approve ETFs due to the high demand

VanEck’s CEO asked the SEC to approve his BTC ETF application due to high customer demand in the market, as we read more today in our latest Bitcoin news.

Jan Van Eck, CEO of VanEck, called on the SEC to clear the ETF filing, noting that the company’s clients have an increasing appetite for exchange-traded funds. This is because the company is working to get an ETF approved in the US. In a recent interview with CNBC, Van Eck spoke about the company’s plans to get into the crypto space through an ETF tracking BTC activities. The company has applied for a new ETF that will track BTC activity. The company has since withdrawn its previous efforts and was most recently delayed twice by the US Securities and Exchange Commission.

Until the SEC’s final decision, VanEck has submitted another draft for a BTC futures fund earlier this week. The fund, known as the BTC Strategy Fund, will invest in futures contracts, synthetic investment vehicles and ETPs with exposure to the major cryptocurrency. It won’t invest in BTC directly, however, which is why VanEck’s CEO believes the SEC should focus on approving exchange-traded funds and citing strong customer demand for them.

“We really think the SEC should approve a Bitcoin ETF.”

However, he argued that the chairman of the committee did not and it was. The SEC is moving too quickly here. Van Eck disagreed with the Grayscale Bitcoin Trust, saying that the only alternative to an exchange-traded fund in the U.S. is a closed-end fund that trades at a 40% premium or a 20% discount. He concluded:

“Bitcoin futures … no better because of the shape of the futures curve. There is a futures-based fund that lagged Bitcoin by 22% last year and 8% this year. It’s impossible to predict what the SEC will do, but investors really want a more efficient route to access. “

As recently reported, the SEC delayed VanEck’s BTC ETF registration and asked the public some key questions about the market. The US Securities and Exchange Commission has postponed a decision on VanEck’s exchange-traded bitcoin fund, the VanEck Bitcoin Trust. This is the second time the committee has pushed back a decision regarding a Bitcoin ETF. The SEC has postponed its decision on filing the Kyrptoin ETF and has yet to approve a BTC ETF, with the chairman pointing at manipulation and also no transparency in the crypto market all along, death being the main reasons.

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