VanEck Bitcoin futures ETF is expected to launch on Chicago Board Options Exchange on November 16, under the ticker symbol XBTF.
The bitcoin futures ETF will start trading at 0930 Hours ET, as announced by the US Securities and Exchange Commission filing.
The SEC accepted the VanEck bitcoin futures ETF application in October, amid numerous ETF applications awaiting the commissioner’s approval.
The SEC earlier declined a spot bitcoin ETF application by VanEck, citing concerns around fraud and manipulations. The commission has been hesitant to accept spot bitcoin ETFs, opting for Bitcoin Futures ETFs instead. In October, the SEC approved an indirect Volt bitcoin investment ETF after approving the first bitcoin ETF, ProShares Bitcoin Strategy ETF.
The SEC has also been cautious about the cryptocurrency market by tightening regulations. The commission has filed multiple lawsuits and has commented that the sector has numerous risks, mostly around regulations.
Source: CBOE