On Tuesday, November 16, Bitcoin futures started trading on the Chicago Board Options Exchange (CBOE).ETF investment company VanEck under the ticker XBTF.
— VanEck (@vaneck_us) November 16, 2021
The VanEck Bitcoin Strategy ETF is the third such instrument on US exchanges, after ProShares and Valkyrie Investments, which were listed on the NYSE and Nasdaq, respectively.
The company’s proposal to launch an ETF based on bitcoin futures was approved by the US Securities and Exchange Commission (SEC) at the end of October, along with an application from Valkyrie Investments.
The opening price for XBTF shares was at $ 60.91 per share. At the time of writing, during the first hour of trading, quotes fell to $ 60.6 and climbed to $ 61.43.
The start of trading fell on the day when the spot price of bitcoin failed the $ 59,000 level.
The SEC rejected VanEck’s application to launch an ETF based on the first cryptocurrency. The company filed the prospectus in early March, but the regulator delayed its decision twice – in April and June.
A Bloomberg Intelligence analyst predicted that the SEC would rather approve an Ethereum futures ETF than allow the launch of an exchange-traded fund based on the bitcoin spot price.
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