New Bitcoin ETF To Be Listed On November 16

New Bitcoin ETF To Be Listed On November 16

The Securities and Exchange Commission of the United States has approved the listing of the new Bitcoin futures-based exchange-traded fund with the ticker XBTF.

The new Bitcoin futures ETF will begin trading on the CBOE BZX Exchange on Nov. 16, under the name VanEck Bitcoin Strategy ETF.

Previously, the SEC did not approve VanEck's spot Bitcoin ETF due to the unclear regulations of the decentralized cryptocurrency market, which creates additional risks for U.S. investors.

XBTF will not be the first Exchange-Traded Product related to Bitcoin; the ProShares BITO that started trading on Oct. 19 was the first fund for U.S. investors. The release of the ETF was kindly welcomed by an industry that received an additional $1.2 billion of inflows on the first week of ETF trading.

The second product from Valkyrie has been trading under the BTF ticker since Oct. 22nd, when the spot Bitcoin pair was trading at around $60,720.

Futures-based Bitcoin ETFs still remain the only possible solutions for cryptocurrency market exposure for institutional investors in the U.S.

Source