© Reuters.
NEW YORK – VanEck, an investment management company, has announced the launch of its VanEck Trust (HODL), a Bitcoin exchange-traded fund (ETF), starting with an initial allocation of $72.5 million. This move comes amid comments from SEC Chairman Gary Gensler highlighting the volatility and speculative nature of Bitcoin as it gains a greater presence in mainstream investment portfolios.
The ETF is designed to directly track the price of Bitcoin, and its launch was anticipated by investors looking to harness the potential of the cryptocurrency market within a regulated framework.
Chairman Gensler's words serve as a warning to those investing in Bitcoin, reminding them of the inherent risks associated with its price fluctuations. As Bitcoin continues to make its way into the investment landscape, the SEC's attention to the asset underscores the importance of investor awareness and due diligence in the face of these types of speculative investments.
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