VanEck, one of the first US asset managers to register a Bitcoin Exchange Traded Fund (BTC), has finally launched a Bitcoin Futures ETF.

According to the Chicago Board Options Exchange (CBOE) official announcement, the VanEck Bitcoin Strategy ETF will begin trading on the CBOE during ticker XBTF on Tuesday.

The new VanEck ETF joins a growing number of BTC ETFs launched in the United States, including ProShares Bitcoin Strategy ETF, which was the first Bitcoin Futures ETF to be traded on the New York Stock Exchange on October 19. Valkyries Bitcoin Strategy. traded on the Nasdaq during the BTF ticker in late October.

The CBOE listing for XBTF came just two days after the US Securities and Exchange Commission formally rejected VanEck’s application for a spot application for a Bitcoin ETF. The Securities and Exchange Commission said the proposed ETF listing rule change does not meet the criteria to “prevent fraud and manipulation and practice” or “protect investors and the public interest.”

VanEck, founded in 1955, is an American asset manager specializing in trust, gold and mutual funds. VanEck is known in the cryptocurrency community as one of the first US companies to apply for a Bitcoin Futures ETF. The company has since submitted several BTC ETF applications to the SEC, but has so far only been able to obtain approval for a futures ETF.

VanEck did not immediately respond to a request for comment from Cointelegraph.

Related: ProShares Bitcoin Futures Fund ranks top 2% of all ETFs by volume

As Cointelegraph previously reported, SEC President Gary Gensler previously indicated that the SEC would be more open to accepting ETFs based on cryptocurrency futures contracts instead of direct exposure.

However, some companies, such as Bitwise Asset Management, remain optimistic about a potential Bitcoin ETF, even if they decide to drop ETF futures deposits last week. “Ultimately, what many investors want is an instant bitcoin ETF. We believe it is possible. Therefore, Bitwise will continue to pursue this goal, and we will look for other ways to help investors access fantastic opportunities in the field. cryptocurrency. “

Source: CoinTelegraph

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