VanEck Resubmits Bitcoin ETF Application with New Strategy

VanEck's Revised Bitcoin ETF Application

VanEck has resubmitted its Bitcoin Exchange Traded Fund (ETF) application to the Securities and Exchange Commission (SEC), featuring a novel Bitcoin-based seeding strategy. This revised approach aims to replicate Bitcoin's after-cost performance through "Creation Baskets" included in their Bitcoin Trust. Previous attempts by VanEck to list its Bitcoin Trust were unsuccessful, prompting this strategic update.

Industry-Wide Updates

This revision is part of a broader trend, as other financial firms like Bitwise Asset Management, ARK Invest, and 21Shares have also updated their Bitcoin ETF applications. While Bitwise has actively countered the regulators' denial reasons, companies like BlackRock, ARK Invest, and 21Shares have similarly modified their strategies to align with regulatory expectations.

Expansion into Ether Futures ETF

Beyond Bitcoin, VanEck is preparing to launch an Ether Futures Exchange Traded Fund (ETF). This fund aims to offer standardized cash-settled Ethereum futures contracts. The launch remains contingent on SEC approval, showcasing VanEck's commitment to expanding its cryptocurrency offerings.

Bullish Solana Price Prediction

VanEck has also made an optimistic prediction regarding Solana's SOL token price. The firm forecasts SOL to reach $335 by 2030, with potential growth to $3,211 in a highly bullish scenario. This projection is based on the expectation that Solana could host the first decentralized application (dApp) exceeding 100 million users.

VanEck's strategic moves highlight its proactive approach in the evolving cryptocurrency market, aiming to secure regulatory approval while anticipating future trends.