Another bitcoin-futures ETF is slated to start trading in October
- Date: 20-Oct-2021
- Source: Business Insider
- Sector:Financial Markets
- Country:Middle East
Another bitcoin-futures ETF is slated to start trading in October
Asset management firm VanEck looks set next week to launch an exchange-traded fund tied to bitcoin futures, just days after ProShares debuted the first-ever such product in the public markets. VanEck's Bitcoin Strategy ETF will begin trading after October 23 on the Cboe BZX Exchange, according to a company . The fund will only invest in cash-settled bitcoin futures traded on exchanges registered with the Commodity Futures Trading Commission, such as the . The product will carry the ticker symbol "XBTF" and will begin trading "[as] soon as practicable after the effective date," of the registration statement. Since October 23 is a Saturday, that points to a potential start date of Monday, October 25. Investors would then have another choice in a futures-based product after Tuesday's launch of the . The "BITO" ETF contracts rather than the bitcoin, the world's most-traded cryptocurrency. Meanwhile, a filing on Monday by indicates it's also set to soon launch its own bitcoin futures ETF. The new ETFs will follow a blockbuster debut by ProShares, which reportedly said its ETF brought in $570 million in assets on its launch day. It was the second-most heavily traded fund, landing with more than 24 million shares exchanged,