VanEck to Launch Second Bitcoin Futures ETF Next Week

VanEck will follow ProShares and launch the second bitcoin-linked ETF in the United States.

Written By:
Darshan Gajjar

Last updated: October 22, 2021 2:49 AM

Published October 22, 2021 2:49 AM

Last updated: October 22, 2021 2:49 AM

Published October 22, 2021 2:49 AM

In Brief:

VanEck may follow ProShares in listing an ETF based on bitcoin futures.
The company plans to list under the ticker $XBTF.
VanEck proposed the listing of its Bitcoin Strategy ETF on Cboe BZX Exchange, effective October 23rd.

A new filing with the Securities and Exchange Commission (SEC) indicates that VanEck may follow ProShares in listing an exchange-traded fund (ETF) based on bitcoin futures.

A post-effective amendment was filed by VanEck proposing the listing of its Bitcoin Strategy ETF on Cboe BZX Exchange, effective October 23rd. This means that the offering would list “as soon as practicable”. The company plans to list under the ticker $XBTF.

In addition to what ProShares offers, VanEck’s bitcoin fund will invest in bitcoin futures traded on exchanges registered with the Commodity Futures Trading Commission (CFTC).

On Oct. 18, the issuer filed a post-effective amendment prospectus stating its intention to list. A similar process led to ProShares’ approval.

The first day of ProShares trading on the New York Stock Exchange was a significant success. Trading volumes neared $1 billion, with most of the action coming from retail investors.

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