VanEck- money manager launches cryptocurrency price indices

   215

New York's VanEck announced today that it is working with the British firm CryptoCompare to launch indices that focus on specific cryptocurrencies such as bitcoin and ether, as well as others that track the movements of multiple assets. The indices are being managed through MV Index Solutions, a company owned by VanEck.

VanEck published headlines in August, when a registration with the U.S. Securities and Exchange Commission announced a plan to list an ETF centered around bitcoin derivatives products. The filing of applications, which came a few months after the SEC's refusal from ETF efforts undertaken by investors Cameron and Tyler Winklevoss, eventually became part of a wider effort to create similar products for investors in the U.S.

However, at the end of September, VanEck filed an application for the withdrawal of its application, showing at the time that the SEC almost refused to consider ETF proposals based on cryptocurrency derivatives, because of the emerging state of this market.