The shares, under the VanEck SolidX Bitcoin Trust, will provide institutional investors access to a physically backed bitcoin product tradable through traditional and prime brokerage accounts, Van Eck and SolidX said in a statement. The shares will be sold under Rule 144A of the Securities Act. The rule modifies the SEC restrictions on trades of privately placed securities, allowing these investments to be traded among qualified institutional buyers.
The shares, under the VanEck SolidX Bitcoin Trust, will provide institutional investors access to a physically backed bitcoin product tradable through traditional and prime brokerage accounts, Van Eck and SolidX said in a statement. The shares will be sold under Rule 144A of the Securities Act. The rule modifies the SEC restrictions on trades of privately placed securities, allowing these investments to be traded among qualified institutional buyers.