VanEck has filed an amended application for a Bitcoin ETF with the SEC, addressing concerns that the SEC raised in its previous rejection. The new application proposes a physically backed ETF structure and provides more information on how VanEck would prevent market manipulation and protect investors. It is still too early to say whether the SEC will approve the amended application, but VanEck's willingness to work with the SEC is a positive sign. If approved, the ETF would be a major milestone for the cryptocurrency industry.