© Reuters
NEW YORK – VanEck, an investment management company, announced the launch of its VanEck Bitcoin Trust (HODL), a spot bitcoin exchange-traded fund (ETF), with an initial allocation of $72.5 million . The move comes as SEC Chairman Gary Gensler has highlighted the volatility and speculative nature of .
The ETF is designed to directly track the price of bitcoin, and its launch was anticipated by investors eager to capitalize on the potential of the cryptocurrency market within a regulated framework.
President Gensler’s remarks constitute a warning to those who invest in bitcoin, reminding them of the risks inherent in fluctuations in its price. As bitcoin continues to make its way through the investment landscape, the SEC’s focus on this asset highlights the importance of investor awareness and diligence regarding these speculative investments.
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