VanEck Launches Its Bitcoin Futures ETF
VanEck, the US-based asset managers to file for a Bitcoin (BTC) exchange-traded fund (ETF), has launched its Bitcoin futures ETF.
It has been reported according to an official notice by the Chicago Board Options Exchange (CBOE) that VanEck’s Bitcoin Strategy ETF will start trading on CBOE under the ticker symbol XBTF.
However, VanEck’s new ETF is joining the growing number of BTC futures-based ETFs launched in the US, including the ProShares Bitcoin Strategy ETF, which became the first Bitcoin futures ETF to start trading on the New York Stock Exchange on October 19.
The report said that Valkyrie’s Bitcoin Strategy ETF started trading on Nasdaq under the BTF ticker in late October. CBOE’s listing of XBTF comes just a couple of days after the US Securities and Exchange Commission officially rejected VanEck’s spot Bitcoin ETF application.
The SEC argued that the proposed rule change to list the ETF did not meet standards to “prevent fraudulent and manipulative acts and practices” or “protect investors and the public interest.”
Thus, the firm has submitted multiple BTC ETF filings with the SEC since then but has only managed to get its futures ETF approved to date.