Cybersecurity
Crypto ETF Advocates Face SEC Resistance Despite Strategic Shift
- VanEck shelved plans for a Bitcoin ETF earlier this month
- Bitwise and Wilshire are trying to get the regulator on side
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After years of delays and false signs of progress, asset managers looking to start the first cryptocurrency exchange-traded fund are heading back to the drawing board.
Van Eck Associates Corp. -- once seen as a frontrunner -- shelved its plans for a Bitcoin ETF earlier this month, leaving just two contenders seeking approval from the U.S. regulator, data compiled by Bloomberg Intelligence show. That’s a far cry from 18 months ago, when a mass of would-be issuers were duking it out to be first to market.