State Street has been appointed as the fund administrator and transfer agent of the VanEck Bitcoin Trust, a new bitcoin exchange-traded fund that is currently pending approval by the U.S. Securities and Exchange Commission. The trust is expected to be the first U.S.-listed ETF offering exposure to bitcoin. The trust’s investment objective is to reflect the performance of the MVIS® CryptoCompare Bitcoin Benchmark Rate, less operational expenses. Pending approval by the SEC, State Street will continue to work closely with VanEck on all aspects of the launch and will provide services including ETF basket operations, custody of the ETF shares, fund accounting, order-taking and transfer agency.
