Bitcoin News

Van Eck will offer a future ETF after the Bitcoin cash ETF license is denied


Stock Exchange Futures (ETF) Bitcoin Futures Fund VanEck is set to launch next week on the Chicago Mercantile Exchange (CBOE). The company was previously set to become the first provider of bitcoin cash ETFs in the United States, which was opposed by the stock exchange commission.

to the Report Chicago Mercantile Exchange Quinn Desk announced in a statement on its website that Van Ek One’s new fund will start trading on Tuesday with the symbol “XBTF”. The announcement says that the launch will begin with the initial auction and after the release of index data.

The date for the release of Van Eck’s futures ETF was announced shortly after the US Securities and Exchange Commission rejected Van Eck’s request for a Bitcoin cash ETF late last week. Cash ETFs invest directly in bitcoin instead of futures contracts. The stock exchange commission had previously postponed its final decision on the offer in September.

Launched next week, the Van Eck ETF joins the growing list of bitcoin futures ETFs that have been listed on the US stock exchange since last month; Mutual funds whose licensing has long been delayed by the Exchange Commission. Some industry experts have said that Bitcoin-backed hedge funds follow the price of this digital currency more closely than futures-based models.

In October, the US Securities and Exchange Commission gave the green light to the ProShares ETF, which was subsequently listed on the New York Stock Exchange (NYSE). The fund quickly raised more than $ 1 billion in assets from its investors, making it the fastest ETF in history.

Following the launch of ETF Companies, Valkyrie Investments, a Bitcoin futures fund, also went public on the Nasdaq a few weeks ago.

Van Atek ETF received the approval of the Exchange Commission in late October (October) and at the same time a file was submitted by the company in which the date of October 25 (November 3) was proposed to launch this ETF. However, Van Eck officials have so far declined to comment on why the new trading fund did not start.

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