Van Eck Securities Corp. and SolidX Management LLC on Thursday plan to start selling shares in a limited version of a crypto exchange-traded fund.
Bitcoin has been in bullish mood over the last couple of days and this news is seen to be positive by the community.
This means they are looking to go forward and start selling the ETF without the SEC’s approval with a technicality in the SEC’s own rule book.
Van Eck says the company are using a rule that will mean shares can only be sold to certain institutional buyers such as hedge funds, brokers and banks. Despite this being good news it means the sale wouldn’t be open to retail investors or individual buyers.
The Securities and Exchange Commission (SEC) has so far rejected every attempt to sell a bitcoin ETF.
At FXStreet we have put together a calendar if you need a reminder of any of the dates for the ETF SEC decision click here.
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