Wall Street Journal: VanEck, SolidX will sell bitcoin ETFs to institutional investors on Thursday

According to The Wall Street Journal, investment management firms VanEck Securities Corp. and Solidx Management LLC plan to release a "limited version" of encrypted ETF shares on Thursday. This "restricted version" of the ETF will be sold under the US Securities and Exchange Commission (SEC) 144A rule, which allows the sale of privately issued securities to "qualified institutional buyers." This means that this “restricted version” of ETFs will only be open to hedge funds, brokers and banks. The SEC declined to comment. According to previous reports, the SEC has repeatedly postponed the decision on the VanEck-SolidX Bitcoin ETF. Regulators have not yet approved Bitcoin etf listing in the US According to the report, the VanEck-SolidX Bitcoin ETF will be issued under the 144A rules and will only be open to hedge funds, brokers and banks, and not open to retail investors or individual investors.