VanEck & SolidX May Launch Limited BTC ETF

WSJ states that companies intend to provide access to Bitcoin ETFs to institutional investors in the near future using the SEC 144A rule
04 September 2019   1037

VanEck and SolidX intend to launch bitcoin-based exchange-traded investment funds (ETFs) without waiting for approval by the US Securities and Exchange Commission (SEC). It is reported by The Wall Street Journal.

According to WSJ, companies intend to provide access to Bitcoin ETFs to institutional investors in the near future. For this, VanEck and SolidX intend to use the SEC 144A rule.

In particular, the norm allows for the closed placement of securities among “qualified institutional buyers” with a shorter tenure and without a separate SEC permission. At the same time, retail investors will still have to wait for the approval of the regulator to launch Bitcoin-ETF.

It is also reported that trading in a limited mode may begin this Thursday.

Recall that in August, the SEC once again postponed the decision on bitcoin ETFs from VanEck and SolidX to a later date. The final decision deadline is October 18th.

It is worth noting that over the past few years, various companies have sought approval from the SEC to launch exchange-traded funds, but each time the regulator refused.

MAS May Allow BTC Derivatives to Approved Desks

The Singapore watchdog's initiative is related to interest in this type of assets of hedge funds and institutional investors
21 November 2019   100

Listing and turnover of cryptocurrency derivatives in Singapore may be allowed on regulated exchanges. This was stated by the country's Monetary Authority (MAS), writes Bloomberg.

The regulator's initiative is related to interest in this type of assets of hedge funds and institutional investors.

So far, according to the law of the country, payment tokens - these include bitcoin and ether - are not assets that can form the basis of regulated derivative financial instruments.

As reported, under the proposal, trading of derivatives on common cryptocurrencies such as Bitcoin and Ether will be subject to the Securities and Futures Act, the Monetary Authority of Singapore said Wednesday in a statement. The plans are in response to interest from hedge funds and asset managers that trade such products. 

Legal sites in Singapore include the Asia-Pacific Exchange, ICE Futures Singapore, the Singapore Derivative Exchange and the Singapore Stock Exchange.

The Central Bank hopes that this initiative will satisfy the need of large investors in managing their payment tokens under state control.

At the same time, MAS emphasized that derivatives of payment tokens are not a suitable financial instrument for retail investors due to high volatility.