VanEck Vectors Intl Hi Yld Bd ETF (IHY) Declines 0.04% for Feb 15

The fund’s top holdings are: Softbank Group Corp 6.25% for 0.73% of assets, ALTICE FRANCE S.A 7.38% for 0.68%, Banco do Brasil S.A. (Grand …

Feb 15 is a negative day so far for VanEck Vectors Intl Hi Yld Bd ETF (NYSEARCA:IHY) as the ETF is active during the day after losing 0.04% to hit $24.01 per share. The exchange traded fund has 130.70 million net assets and 0.35% volatility this month.

Over the course of the day 20,490 shares traded hands, as compared to an average volume of 36,540 over the last 30 days for VanEck Vectors Intl Hi Yld Bd ETF (NYSEARCA:IHY).

The ETF is -10.84% of its 52-Week High and 0.09% of its low, and is currently having ATR of 0.1. This year’s performance is -8.87% while this quarter’s performance is -2.59%.

The ETF’s YTD performance is 3.1%, the 1 year is -3.23% and the 3 year is 7.59%.

The fund’s top holdings are: Softbank Group Corp 6.25% for 0.73% of assets, ALTICE FRANCE S.A 7.38% for 0.68%, Banco do Brasil S.A. (Grand Cayman Branch) 3.88% for 0.61%, China Evergrande Group 8.75% for 0.55%, Altice Luxembourg S.A. 7.75% for 0.53%, Petrobras Global Finance B.V. 6% for 0.52%, Softbank Group Corp 6% for 0.49%, Altice Financing S.A. 6.62% for 0.47%, Turkiye Is Bankasi A.S. 6% for 0.44%, UniCredit S.p.A. 6.95% for 0.41%. The ETF sector weights are: Basic Materials 0.00%, CONSUMER_CYCLICAL 0.00%, Financial Services 0.00%, Realestate 0.00%, Consumer Defensive 0.00%, Healthcare 0.00%, Utilities 0.00%, Communication Services 0.00%, Energy 0.00%, Industrials 0.00%, Technology 0.00%. The ETF currently as 4.67% yield.

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More notable recent VanEck Vectors Intl Hi Yld Bd ETF (NYSEARCA:IHY) news were published by: Seekingalpha.com which released: “VanEck Vectors declare monthly distribution – Seeking Alpha” on February 01, 2019, also Seekingalpha.com with their article: “Across-The-Board Losses For The Major Asset Classes Last Week – Seeking Alpha” published on September 11, 2018, Seekingalpha.com published: “All The Major Asset Classes Took A Hit Last Week – Seeking Alpha” on February 05, 2018. More interesting news about VanEck Vectors Intl Hi Yld Bd ETF (NYSEARCA:IHY) were released by: Seekingalpha.com and their article: “U.S. Stocks Post The Only 1-Year Gain For The Major Asset Classes – Seeking Alpha” published on November 19, 2018 as well as Seekingalpha.com‘s news article titled: “Emerging Markets Stocks And Bonds Rise As U.S. Shares Sink – Seeking Alpha” with publication date: August 22, 2017.

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NYSE Arca Filing Kicks Off Countdown for New Bitcoin ETF

The U.S. Securities and Exchange Commission (SEC) announced it was beginning its review of a bitcoin ETF rule change proposal filed by NYSE …

The clock just started on the latest effort to launch a bitcoin exchange-traded fund (ETF).

The U.S. Securities and Exchange Commission (SEC) announced it was beginning its review of a bitcoin ETF rule change proposal filed by NYSE Arca and Bitwise Asset Management on Feb. 11, and the proposal itself was published in the Federal Register on Feb. 15, meaning the regulator has 45 days to make its initial decision on whether to approve, reject or extend the proposal.

The SEC has at most 240 days to make a final decision on whether to approve or reject the ETF.

Members of the general public looking to file responses to the rule change proposal have three weeks to submit any comments.

Many proponents of bitcoin ETFs believe the funds will bring new investors and increased liquidity to the market.

NYSE Arca and Bitwise announced their attention to launch a bitcoin ETF earlier this year, filing the rule change proposal the same day. However, due to the government shutdown, the SEC did not publish the filing in the Federal Register, meaning the agency was not examining the proposal.

That changed today, with Friday’s edition of the Register starting the latest countdown.

The SEC has yet to approve a bitcoin ETF, rejecting several and asking others to withdraw their submissions.

However, SEC commissioner Robert Jackson recently said he believes one will be approved “eventually,” anticipating that sooner or later a proposal will match all of the regulator’s guidelines.

That being said, not everyone thinks an ETF will actually bring in fresh liquidity, such as bitcoin analyst Nik Bhatia, who previously told CoinDesk that existing fund products, such as the Grayscale Bitcoin Investment Trust, may already serve the same purpose.

Most recently, VanEck and SolidX withdrew a joint proposal filed with Cboe BZX Exchange due to the recent U.S. government shutdown. The proposal, first filed in 2018, had faced a final decision date of Feb. 27, and was widely considered to be a strong candidate for approval.

However, conversations between its proponents and regulators lapsed as a result of the shutdown, and VanEck CEO Jan van Eck explained that the firms thought it would be better to pull the proposal and re-file at a later date than to hope it be approved on a technicality. The companies re-filed the proposal the following week.

While the SEC has published the VanEck/SolidX proposal on its website, this one has yet to appear in the Federal Register, meaning the clock has not yet started for this ETF.

Editor’s note: This article has been updated with further information.

SEC image via Mark Van Scyoc / Shutterstock

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Prominent Bitcoin Players Upbeat About Bitcoin ETF and Price Levels

The arrival of a Bitcoin ETF would reduce the barriers to investing in digital … He also expresses confidence in VanEck and Fidelity Investments,.

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ETF Tied to Bitcoin Futures Withdrawn After SEC Staff Request

The ETF proposal would have invested in a portfolio of sovereign debt instruments, alongside bitcoin futures products from the CME and Cboe …

Reality Shares ETF Trusts, a division of Blockforce Capital, is withdrawing an exchange-traded fund proposal that, if approved, would have included exposure to bitcoin futures.

The move comes just days after the proposal for the Reality Shares Blockforce Global Currency Strategy ETF was first submitted to the Securities and Exchange Commission (SEC). According to a note submitted to the SEC on Tuesday, the company withdrew its ETF proposal at the request of agency staffers.

A lawyer for Reality Shares confirmed the move when reached for comment by CoinDesk, stating:

“I can confirm that we did withdraw it and it was withdrawn because the staff are still taking the position that it’s not appropriate to file a registered 40 Act fund with cryptocurrency exposure at this time.”

The lawyer added that the Investment Company Act of 1940 – which the proposal was filed under – would have resulted in the proposal becoming automatically approved within 75 days, which is a specific aspect with which SEC staffers took issue.

An attorney familiar with U.S. securities regulations told CoinDesk that SEC Director of Investment Management, Dalia Blass, essentially forbade fund sponsors from registering crypto-related investment products under the 40 Act in a letter dated January 2018.

The letter further added that these fund sponsors should particularly not use rule 485(a), which Reality Shares’ proposal did.

Indeed, the initial filing does indicate that the ETF would have gone live 75 days after the initial filing.

Unlike other bitcoin-specific ETFs filed by companies such as Bitwise and VanEck/SolidX, whose proposals would be examined by the Division of Corporation Finance, Reality Shares’ filing falls under Investment Management (IM) due to the 40 Act filing.

“IM reviews 485(a) filings and provides comments, but unlike filings for non-investment companies on Form S-1 … a 485(a) filing goes effective without action from IM,” the attorney explained.

This is because there is no “‘delaying amendment’ that specifies that the filing will not go effective until approved,” he added.

Blockforce Capital could not be reached for comment.

The ETF proposal would have invested in a portfolio of sovereign debt instruments, alongside bitcoin futures products from the CME and Cboe exchanges. Reality Shares also left the door open to investing in other bitcoin futures products after the ETF began trading.

Editor’s note: This article has been updated to clarify the different rules under which ETFs are filed.

SEC emblem image via Shutterstock

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SEC Commissioner Hester Peirce: Outdated SEC Rules May Kill 2019 Bitcoin ETF Approval Odds

Hester Peirce, the commissioner of the U. S. Securities and Exchange … one from the Winklevoss Twins, which own the Gemini crypto exchange.
SEC-Commissioner-Peirce-Believes-SEC-Rules-May-Kill-Bitcoin-ETF-Chances-This-Year

SEC Commissioner Peirce Believes SEC Rules May Kill Bitcoin ETF Chances This Year

Hester Peirce, the commissioner of the U. S. Securities and Exchange Commission (SEC) has affirmed that the chances that we may see the long-awaited Bitcoin exchange-traded fund (ETF) this year are very slim.

Known as the “Crypto Mom” because she supports she supports Bitcoin a lot, Peirce is a minority in the SEC, as most of the commissioners are not very keen on the Bitcoin ETF. She blamed “arcane rules” as the reason for the delay of the ETF.

The institution is known for leaning more towards a conservative vision of the market and Hester Peirce is basically alone lobbyist for Bitcoin in there. She often has affirmed that she is trying to convince her colleagues but her efforts are not being successful at the moment.

Last year, she pushed hard for the VanEck Bitcoin ETF, but the decision ended up delayed, which has prompted her to accuse the SEC of being “impulsive in running away” in social media.

The Crypto Market Is Waiting For The ETF

A lot of the investors in the industry are waiting for the Bitcoin ETF, as they consider that it will be the major trigger that will finally usher a new bull run, which may take the prices up. The ETF would be a very easy way for investors to get exposure to Bitcoin markets in a safe way and more institutional and traditional investors would be interested in the market then.

Last year, the SEC decided to reject several applications for the ETF, including one from the Winklevoss Twins, which own the Gemini crypto exchange. The main concern of the SEC is that the market is too prone to manipulation and it lacks maturity so far.

However, Peirce’s argument is that the investors are smart enough to make up their own minds on the risks and that they do not need the SEC to babysit them.

What Will It Take For The Bitcoin ETF To Be Approved?

At the moment, the best shot of the industry is the VanEck Bitcoin ETF. The main positive aspect of the ETF is that it derives its price from over the counter (OTC) markets. Some of the prior attempts derived their price from the futures market. The difference here is that OTC markets are bigger and that they are a lot more liquid, which is good.

The ETF would also be physically settled and actual Bitcoin would be bought in order to back the product. Unfortunately, because of the government shutdown which happened in January, the company retired the application and now it will have to wait for the SEC again.

According to Jay Clayton, the chair of the SEC, the main concerns of the SEC are linked to the storage of the cryptos, theft and market manipulation. The chairman is not really convinced that the Bitcoin market is very secure yet. Because of this, he is not so comfortable with the idea of the ETF while the market does solve custody, theft and manipulation problems.

The CEO of VanEck, Jan van Eck, believes in the potential of his product. He believes that his company just need to demonstrate in a very clear way that the ETF is safe.

According to some experts, the main doubt is not even whether the Bitcoin ETF will be accepted one day. It is almost certain that it will, but the main question is when will this happen.

Bitcoin (BTC), Ethereum (ETH), XRP (Ripple), and BCH Price Analysis Watch (Feb 13th)