Following last week’s remarks by the US Securities and Exchange Commission (SEC) Chairman, Gary Gensler, that the regulating body is carefully contemplating the possibility of approving a CME-traded Bitcoin (BTC) futures exchange-traded fund (ETF), investment firm VanEck filed for just that.
The New York-headquartered firm’s most recent ETF application was reportedly filed yesterday, hoping to provide further exposure to such products to a broader set of potential investors. That being said, VanEck still believes that what investors want is a physical BTC ETF. Nonetheless, Gabor Gurbacs, the digital asset strategies director of the firm, states that futures ETFs are undoubtedly the easier path to SEC approval currently. This filing represents the second time VanEck applied for futures ETF with the SEC.
As reported by Coinmod last August 5, US SEC Chair Gary Gensler spoke about his current views on the crypto scene and the community’s pursuit for a US-based BTC ETF on the Aspen Security Forum. According to Gensler’s remarks back then, the agency is currently only open to approving a BTC ETF within the bounds of several stringent rules and not one that provides direct exposure to the crypto.
While that may not be what the market particularly wants, Gensler’s eagerness to review ETFs at the very least has apparently rekindled the hopes of several firms aiming to host the very first BTC ETF within the United States.