• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Price & Market
Cap Data from
Nomics Logo Nomics Logo
Bitcoinist.com
Join Student Coin ICO
No Result
View All Result
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
Bitcoinist.com
No Result
View All Result
VanEck SolidX Bitcoin ETF
Nexo

VanEck SolidX Bitcoin Trust Falls Flat on Expectations

Christina Comben by Christina Comben
2 years ago
in Bitcoin, Bitcoin News, News, News teaser
0

VanEck has been offering “forward-looking” strategies for over half a century. But its VanEck SolidX Bitcoin Trust ETF for institutional investors looks to be a non-starter.

VanEck has been in and out of the headlines in the Bitcoin circle for some time now since it submitted first highly scrutinized and hotly anticipated Bitcoin ETF proposal to the SEC. 

For many, the United States Securities Exchange and Commission giving the approval for a Bitcoin ETF is the catalyst toward Bitcoin acceptance. It will open up the gates to a plethora of new investors and send the price of BTC into the stratosphere.

However, we can’t expect that to happen any time soon.

Just yesterday, in fact, SEC Chairman Jay Clayton told CNBC that while we were closer to seeing a Bitcoin ETF, there’s still “work left to be done”.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Clayton went on to talk about the same old issues of unregulated exchanges and manipulation. He later added that the harder questions still needed answering.

Are we any closer to seeing a Bitcoin ETF some day? SEC Chairman Jay Clayton to @CNBC: "yes, but there's work left to be done" @SEC_News @bobpisani @kellycnbc @CNBCTheExchange #bitcoin #crypto pic.twitter.com/iJP3nn9XHc

— The Exchange (@CNBCTheExchange) September 9, 2019

But that’s not stopping the investment management giant in its tracks.

VanEck prides itself on thinking “outside the confines of financial markets” and identifying new trends. As such, the firm launched its VanEck SolidX Bitcoin Trust 144A Shares as:

“the first open-end and DTC-eligible bitcoin security that can be held in a brokerage account.” 

But, three days after opening, it has just four bitcoins under its management.

VanEck SolidX Bitcoin Trust Gains Almost Zero Traction

To be managing total net assets of just over $40,000 is hardly an enticing objective for such a big fish in institutional investment space.

A well-known economist and trader Alex Krüger pointed out this “massive” demand from institutional investors in a sarcastic tweet. He noted that the trust so far had managed to issue just one “whopping” basket of four bitcoins.

Three days after launch, the VanEck bitcoin trust for institutional investors has reportedly managed to issue a whopping 1 (one) basket. It has 4 bitcoins or $41,400 in assets under management. Massive. pic.twitter.com/TUePbLVqBi

— Alex Krüger (@krugermacro) September 10, 2019

While the numbers are certainly disappointing for the investment firm so far, it may not spell total defeat. 

Fundstrat co-founder and bullish Bitcoin analyst Tom Lee pointed out that it’s “too early” to judge the success of the project.

I think it is too early to judge the success of the product.

— Thomas Lee (@fundstrat) September 10, 2019

Whether the VanEck SolidX Bitcoin Trust gains traction or not remains to be seen. But from here, it looks as if all eyes are still firmly watching the pending ETF.

What do you think of the response to VanEck SolidX BTC ETF? Share your thoughts in the comments below. 


Images via Shutterstock, Twitter: @CNBCTheExchange, @krugermacro, @fundstrat

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Christina Comben

Christina Comben

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2021 Bitcoinist.com. All Rights Reserved.
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.