According to Coincu, VanEck has submitted an amended application for its VanEck Spot Bitcoin ETF to the U.S. Securities and Exchange Commission (SEC), marking increased competition for approval. This comes after ARK Invest and 21Shares amended their joint application and BlackRock submitted an amended prospectus for its own spot Bitcoin ETF last week.
VanEck has also launched the "Born to Bitcoin" advertising campaign for its Spot Bitcoin ETF, reflecting the firm's confidence in obtaining SEC approval. This advertising push mirrors a trend in the industry, initiated by Bitwise Asset Management, which used a high-profile ad featuring Jonathan Goldsmith, known as the "Most Interesting Man in the World."
The SEC's impending decision on the first-ever spot Bitcoin ETF in the United States has become a focal point for the digital asset industry. With over a dozen applicants, including VanEck, the market eagerly anticipates a potentially defining moment for cryptocurrency investments. Positive perceptions emerged from meetings between the SEC and various firms in December, fostering expectations for approval in early 2024. These developments underscore the growing competition among financial firms vying for a foothold in the burgeoning digital asset market.
