Chervinsky added on Twitter: “The benefits of an ETF (liquidity, price discovery, transparency, investor protections, etc.) depend on a major exchange listing + the structure and requirements that go along with formal ETF approval. Private investment trusts are fine, but don’t provide the benefits of an ETF.”

While the VanEck-SolidX Bitcoin Trust remains a long way from mainstream investors, the fund’s creators remain hopeful it will highlight the potential for a bitcoin ETF. The product could “pave the way for institutional bitcoin adoption” Gabor Gurbacs, VanEck’s director of digital assets strategy, told CoinDesk. He added that it could indicate to the SEC the viability of bitcoin investing for retail users.

A bitcoin ETF could be closer than we think.


Please send news, tips, and whacky financial vehicles to Today’s Private Key was written by Matthew De Silva and edited by Oliver Staley. Take the long way home.

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