Jake Chervinsky, a securities law expert and General Counsel of Compound, said in a "VanEck, Solidx plan to launch a 'restricted version of the Bitcoin ETF' directly": "This is misleading. VanEck and SolidX's Bitcoin Trust is not an ETF. It It looks like the Grayscale Bitcoin Trust launched six years ago. Calling it "Restricted ETF" is a lovely marketing strategy, but that's it. It's called a complete ETF. it's wrong."