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VanEck Modifies ETF Application for Bitcoin Exposure

VanEck Modifies ETF Application for Bitcoin Exposure

Asset manager VanEck has recently modified its application for a spot Bitcoin exchange-traded fund (ETF) with the Securities and Exchange Commission (SEC). The updated application states that the initial capital of the ETF will be invested in Bitcoin, distinguishing it from other proposals for Bitcoin spot ETFs. Additionally, VanEck highlights that an investor has already purchased initial creation baskets of the ETF, which include a block of 50,000 ETF shares. The basket’s price is determined by the MarketVector Bitcoin Benchmark Rate, a Bitcoin price benchmark.

A More Direct Exposure to Bitcoin

This change could have significant implications for investors seeking exposure to Bitcoin through traditional asset managers. A spot ETF invests directly in Bitcoin, unlike existing ETFs that invest in Bitcoin futures contracts. VanEck joins a growing list of asset managers, including BlackRock, Bitwise Asset Management, ARK Invest, and Grayscale, that are also awaiting approval for their Bitcoin spot ETFs.

VanEck Predicts SOL at $3,000 by 2030

According to recent projections by VanEck, the price of SOL could vary significantly by 2030, ranging from a bearish scenario at $9.81 to a bullish scenario at $3,211.28. These figures are based on market share and revenue estimates in key sectors. This bold prediction underscores the growing optimism surrounding Solana, suggesting its potential to become a major player in the crypto ecosystem, particularly in decentralized finance (DeFi) and NFTs.

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