The seed fund of VanEck's Bitcoin spot ETF may directly use Bitcoin instead of cash.

BlockBeats reported on October 30th that Scott Johnsson, a US financial lawyer, stated on social media that the language in the updated prospectus for VanEck's Bitcoin spot ETF regarding seed funds is similar to that of BlackRock. Given that both are represented by the same lawyer from the law firm of Horizons, this may not be surprising. However, VanEck did not use cash as a seed fund like BlackRock iShares, but instead suggested using Bitcoin as the investment unit of measurement for the seed fund.