The name of the fund, according to the application, will be VanEck Bitcoin Trust. ETF shares will be traded on the Cboe BZX exchange, and the share price will be calculated daily based on bitcoin quotes from the five largest cryptocurrency exchanges. The price index of the first cryptocurrency will be calculated by the subsidiary company MV Index Solutions. The maximum aggregate price of the fund’s placement is still quite small – only $ 1 million. Note that the order does not specify a custodian service – the order will be supplemented.
In late November, VanEck launched Exchange Traded Bonds (ETNs) on the Xentra platform of the Deutsche Börse German stock exchange. The ETN price corresponds to the bitcoin rate, and the exchange product itself is backed by BTC.
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