VanEck’s Bitcoin futures ETF will be released next week. The fund will be the second of its kind when it launches in the US on October 25.
- VanEck’s Bitcoin futures ETF will be released next week on October 25.
- The fund will be the second of its kind in the US after ProShare’s own Bitcoin futures ETF.
- A real Bitcoin ETF tied to Bitcoin rather than BTC futures has yet to be approved in the US.
VanEck’s Bitcoin ETF will be available on October 25th!
VanEck’s BTC futures ETF has now been approved by the US Securities Exchange Commission. The fund is allowed to trade after Saturday, October 23, but most likely the ETF will be listed on Monday, October 25 as markets open. The fund will be listed under the symbol “XBTF”. The ETF will charge a management fee of 0.65% or $0.65 for every $100 invested. Bloomberg notes that this is significantly cheaper than the 0.95% fee on ProShares’ competing ETF.
VanEck’s ETF will be the second of its kind in the United States
VanEck’s Bitcoin futures ETF will be the second of its kind in the United States. ProShares launched its own futures ETF this Tuesday, setting a precedent for similar funds. Under the influence of this event, the BTC price hit a new all-time high above $66,000.
Another similar ETF has been proposed by Valkyrie and will likely receive approval in the near future. Meanwhile, Invesco has withdrawn its offer of a BTC futures ETF. Despite these recent developments, there are still no real Bitcoin ETFs in the United States. A real ETF will monitor the price of Bitcoin rather than the price of BTC futures.
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