The US Securities and Exchange Commission has likely approved the VanEck Bitcoin Exchange Traded Strategy Fund (ETF) and trading is expected to start on Monday.
In the case of the SEC on Wednesday, Vanek said that the public offering of the Bitcoin Strategy Index (BTC) ETF, which provides access to the crypto asset through futures contracts, will begin “as soon as possible” after the actual deposit date on Saturday. … This indicates that the company may list its shares on the stock exchange as early as Monday.
Unlike ETFs, which offer direct access to BTC or Ether (ETH), which are not approved by the Securities and Exchange Commission (SEC), VanEck ETFs will provide access via exchange traded BTC futures contracts with cash settlements. Registered with the Commodity Futures Trading Commission, combined investment instruments and other exchange-traded products. After filing an ETF pegged to BTC futures in August, VanEck ProShares, which launched its bitcoin strategy ETF on the New York Stock Exchange on Monday, may not be outdone.
Related Topics: Cryptocurrency Market Value Exceeds $ 2.5 Trillion – Is It ETF Season?
A potential VanEck ETF listing emerges when Bitcoin and Ethereum prices hit record highs. According to Cointelegraph Markets Pro, BTC and ETH are priced at $ 65,955 and $ 4,003, respectively. Largely driven by the change in bitcoin prices, the total market value of cryptocurrencies has also hit a new high of around $ 2.63 trillion.