VanEck Prepares To Launch Second US Bitcoin Futures ETF

Get real time updates directly on you device, subscribe now.

VanEck’s second tradable exchange-traded fund (ETF) for bitcoin futures will launch in the US next week.

According to a document on the website of the US Securities and Exchange Commission (SEC), registration of the VanEck Bitcoin Strategy ETF is scheduled for October 23. That is, the fund’s shares will be available to investors after this date “as quickly as possible.” The VanEck ETF will be traded on Cboe BZX under the ticker XBTF.

Like ProShares’ BITO fund launched on October 19, VanEck ETF will invest in bitcoin futures on exchanges registered with the US Commodity Futures Trading Commission (CFTC). State Street, a large American bank, will act as the custodian of the fund’s assets.

Investors have shown considerable attention to BITO – on the first day, the volume of trading in shares of the ProShares fund exceeded $ 1 billion, and the capitalization of the ETF was $ 570 million. This is one of the best results of the first day on the US market.

However, VanEck is not limited to the US market. So, at the end of September, the company applied to launch an ETF on the Solana cryptocurrency in Germany.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.