VanEck’s futures Bitcoin ETF is expected to start trading on Tuesday, November 16.
After weeks of delay, it looks like VanEck’s Bitcoin futures ETF will finally start trading on Tuesday. The Chicago-based exchange CBOE said the product will begin trading under the symbol XBTF as of Tuesday.
As we mentioned earlier, this product of VanEck was approved by the SEC in late October, but could not be processed. The announcement came just after VanEck’s spot Bitcoin ETF application was rejected by the SEC. As we reported earlier, the SEC rejected VanEck’s spot Bitcoin ETF, causing a drop in the market.
As it is known, the SEC approved the ProShares Bitcoin futures ETF, the first Bitcoin ETF of the USA, last month, and the decision caused great excitement in the market. The product managed to raise more than $1 billion in assets in a short time, making it the fastest ETF to reach this milestone. Bitcoin quickly reached an all-time high after the news.
After ProShares’ highly anticipated ETF started trading, Valkyrie Investments’ Bitcoin futures ETF also started trading on the Nasdaq a few weeks ago. This product from VanEck represents the last ETF to join this caravan.