Cryptography analyst Joseph Young said on Twitter today that the agency will receive a BTC investment tool at VanEck to replace the Gray Bitcoin Investment Trust (GBTC). This is not an ETF, but I expect it will lower the premium for investors and provide more liquidity. According to GBTC data, its asset management scale is 2.5 billion US dollars, which is not a small amount. According to the Odaily Planet Daily, VanEck Securities Corp. and Solidx Management LLC plan to release a "limited version" of encrypted ETF shares on Thursday. The "Limited 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 ETF" will only be open to institutions such as hedge funds, brokers and banks. Retail investors cannot participate. Lawyer Jake Chervinsky said Van Eck and SolidX's new fund is not an ETF.