A new Bitcoin futures exchange-traded fund (ETF) is set to start trading on Wall Street next week, according to a Wednesday SEC filing.
New York-based asset management firm VanEck’s Bitcoin Strategy ETF will go live on the New York Stock Exchange after October 23, the filing said.
Trading of VanEck’s ETF will begin “as soon as practicable after the effective date,” which likely means Monday, October 25.
The first Bitcoin-related ETF in the U.S. launched yesterday—and was hugely popular: ProShares’ Bitcoin Strategy ETF traded $280 million-worth of shares in 20 minutes. By the end of the trading day, nearly $1 billion had been traded.
VanEck’s product will be the same type of ETF—one that gives investors exposure to the world’s biggest cryptocurrency by allowing them to trade shares that represent contracts betting on the price of Bitcoin.
“Futures contracts are financial contracts the value of which depends on, or is derived from, the underlying reference
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