Asset manager VanEck is filing for a Bitcoin Strategy exchange-traded fund (ETF) after it unsuccessfully attempted to launch a like fund 4 years ago.

Co-ordinate to the United States Securities and Exchange Commission, or SEC, VanEck filed a prospectus for a Bitcoin Strategy exchange-traded fund on Mon. Unlike its Bitcoin (BTC) or Ether (ETH) ETFs currently under review by the federal bureau, the proposed fund would not invest in BTC straight, but provide exposure through Bitcoin future contracts, pooled investment vehicles and other exchange-traded products.

VanEck said the Bitcoin Strategy ETF would let exposure through crypto ETFs listed and traded in Canada — purportedly including those from Purpose Investments and Evolve Funds Group. A Cayman Islands-based subsidiary of the asset manager will make the investments.

Though VanEck filed a similar prospectus for a Bitcoin Strategy ETF in 2022, SEC Chair Gary Gensler recently hinted that he would exist more open to accepting ETFs based on crypto futures rather than through direct exposure. Some companies filed similar "strategy" ETFs with the government torso post-obit Gensler's announcement — investment firm Invesco announced its own plans to launch a Bitcoin ETF without direct exposure on Th.

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The SEC has yet to approve whatsoever Bitcoin ETF in the United States. However, VanEck, Valkyrie Digital Assets, Fidelity Investments and others have filed their own proposals for crypto ETFs. The commission has historically extended the deliberation window or opened the matter to public comments to seemingly avoid reaching whatever conclusion on a fund.