On October 29th, asset management company VanEck reportedly submitted a revised version of their Bitcoin Spot ETF to the U.S. Securities and Exchange Commission (SEC). This news was shared by Bloomberg ETF analyst James Seyffart via social media, according to a report by BlockBeats.
This development comes only a few days after Bitwise, a prominent crypto asset management organization, took a similar path. As reported by BlockBeats on October 26th, Bitwise submitted their own modified version of a Bitcoin Spot ETF to the SEC. Seyffart highlighted that Bitwise's submission was, in essence, a response to comments and concerns raised by the SEC.
Should the SEC approve Bitwise's product, it is set to trade under the ticker BITB. It remains to be seen if VanEck's revised submission will receive a similar nod of approval from the US regulatory body.
This move of submitting revised Bitcoin spot ETFs represent the continuous efforts from various investment companies to receive a green light for Bitcoin ETFs, which have the potential to open up cryptocurrency to a broader investment audience, and foster growth in the digital assets market.
