According to a document from the Law 360 website, SolidX Management, a former partner of investment management company VanEck, filed a lawsuit in a New York State court accusing VanEck Securities of continuing to use SolidX's technology to create its own Bitcoin ETF after the cooperation contract ends, which suspected of "plagiarism" and malicious competition.

It is reported that the two companies jointly established VanEck SolidX Bitcoin Trust in 2018, which is an open and tradable financial product based on Bitcoin. The complaint stated: "This is more than just a breach of contract; it is catastrophic to both SolidX and the Trust, because VanEck has destroyed their ability to earn income from many years of work and a great deal of money spent".

By Mary Liu