American financial lawyer Scott Johnsson posted on social media that the wording of the seed fund in VanEck's updated Bitcoin spot ETF prospectus is similar to that of BlackRock. Given that both are represented by the same lawyer from the law firm of Hao Wei, this may not be too surprising. However, VanEck did not use cash as the seed fund like BlackRock iShares, but suggested using Bitcoin as the investment measurement unit for the seed fund.
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VanEck Bitcoin Spot ETF Seed Fund may purchase Bitcoin directly instead of cash
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