An asset management company Van Eck Securities Corporation and blockchain company SolidX Partners Inc. are going to launch a bitcoin-linked exchange-traded fund (ETF) that could be traded as easily as a stock.
The exchange-traded fund, called VanEck SolidX Bitcoin Trust, will be insured against theft, fraud and loss of access to the currency, according to the filing, which was filed to a review by the USA Securities and Exchange Commission (SEC).
The firms said they intend to buy and sell bitcoin in informally organized «over-the counter» bitcoin markets to cap transaction costs, while trading large blocks of the cryptocurrency.
Van Eck and SolidX hope to list the ETF on the CBOE BZX Equities Exchange.
