On the heels of ProShares historic trading of the first Bitcoin futures exchange-traded fund (ETF) on the New York Stock Exchange (NYSE) yesterday, available information has shown that VanEck has also gotten approval from the Securities and Exchange Commission (SEC).
VanEck Bitcoin ETF to begin trading next week
According to a filing made by the company, it revealed that it has gotten a green light from the regulator to begin trading under the XBTF ticker from October 23. The said date happens to be a Saturday, which means the stock market would be closed thus its trading is going to begin by the next market day which is Monday, October 25.
“The Fund is an actively managed exchange-traded fund that seeks to achieve its investment objective by investing, under normal circumstances, in standardized, cash-settled bitcoin futures contracts traded on commodity exchanges registered with the Commodity Futures Trading Commission (’CFTC’), such as the Chicago Mercantile Exchange (the ‘C
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