2021-11-15 09:46 |
The VanEck bitcoin futures ETF will debut on the Chicago Board Options Exchange (CBOE) on Nov. 16. The ETF will be listed under the ticker XBTF and trading will begin at 9:30 AM Eastern Time.
The VanEck bitcoin futures ETF will be listed on the Chicago Board Options Exchange (CBOE) on Nov 16, according to a notice issued by the CBOE. A filing from the United States Securities and Exchange Commission (SEC) also accompanied the announcement. The ETF will have the ticker ‘XBTF.’
The VanEck bitcoin futures ETF was approved by the SEC in October 2021, to much celebration from investors. It comes at a time when the SEC appears to be rapidly deciding over the status of multiple ETF applications — of which there are several, and more to come.
Trading will start at 9:30 AM ET on Nov 16, with the dissemination of index data to follow. The listing is a victory for VanEck, which has made multiple ETF applications.
The SEC very recently rejected a VanEck Spot Bitcoin ETF proposal, but this is unsurprising given its reluctance to approve a spot bitcoin ETF. The regulator cited investor protection as the major concern, something it has done repeatedly over the past year. However, the SEC has been far more accommodating of futures-based bitcoin ETFs, with SEC Chair Gary Gensler also making statements to the same.
More bitcoin ETFs launching in the USThe U.S. SEC has been at the center of news in the crypto market this year, as a result of its increased scrutiny of the crypto market. Besides filing multiple lawsuits, it has also spoken extensively of the risks associated with exposing retail investors to the crypto market.
But the increased scrutiny seems to be accompanied by a willingness to approve investment vehicles that are supported, to a degree, by existing regulation. This has led to the approval of some futures-based ETFs.
The ProShares Bitcoin Strategy ETF became the first ETF to be approved and performed remarkably well after launch. Soon after, the VanEck bitcoin futures ETF received approval, hence the imminent listing on Nov 16. The SEC also approved an indirect Volt bitcoin investment ETF in October.
The post VanEck Bitcoin Futures ETF Goes Live on CBOE on November 16 appeared first on BeInCrypto.
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