Exemption Enables VanEck, SolidX To Offer Bitcoin ETF
After another delay in getting a go signal from the U.S. Securities and Exchange Commission, asset managers VanEck and SolidX are now planning to offer a limited version of the Bitcoin ETF to qualified institutional investors.
In doing so it would be able to sell shares of a Bitcoin ETF via a rule that exempts the shares from securities registration, and can only be sold to certain institutional investors.
According to reports, the asset management firms are planning to start selling shares of the limited version of their Bitcoin ETF on September 5, 2019, under the U.S. Securities and Exchange COmmissions (SEC) Rule 144A.
VanExh SolidX has been applying for approval for a Bitcoin ETF since 2018 but the U.S. SEC has delayed making the decision several times, last August 12, the agency once again delayed the decision on three Bitcoin ETFs from VanEck SolidX, Bitwise Asset Management as well as Wilshire Phoenix.
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