VanEck, an investment firm with almost $82 billion in assets under management, has submitted an application to the United States Securities and Exchange Commission (SEC) for the launch of a new exchange-traded fund that invests in gold mining and Bitcoin (BTC) mining companies.

According to the SEC document filed on March 3, the fund will focus on securities in an index that reflects the performance of gold mining and digital assets mining firms. It would not invest in cryptocurrencies directly or through derivatives. However, there was no ticker or cost ratio mentioned in the document.

The news of VanEck’s proposed fund comes as concerns over a fresh round of U.S. regulation linger in the air. The U.S. president, Joe Biden, is expected to sign an executive order later this week that will set forth the country’s cryptocurrency strategy.

The order will instruct federal agencies, including the SEC, to submit reports on what measures they’ve taken regarding digital assets later this year. The administration has come under fire for not providing enough clarity on cryptocurrency regulation.

In November, the SEC denied a VanEck ETF that would have bought BTC directly. Despite industry figures advocating for one for years, the regulator has not yet approved such a fund. With the groundwork for regulating the crypto space commencing, regulators may be delaying the approval of such ETFs until a more solid regulatory framework is put in…

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