According to a notice issued by Chicago-based CBOE exchange, VanEck is ready to go live with its Bitcoin Strategy exchange-traded fund ETF on Tuesday, November 16, trading under the ticker symbol “XBTF.” The investment firm is coming with this announcement, after having its filing for spot BTC ETF approval with the SEC rejected just last week.
VanEck Bitcoin Futures ETF To Begin Trading On Tuesday
The investment firm VanEck’s bitcoin futures exchange-traded fund (ETF) is set to finally make its debut on the Chicago-based CBOE exchange this week, after getting the nod from SEC since late October.
Per the notice, VanEck Bitcoin Strategy Fund will begin trading under the ticker symbol “XBTF” on Tuesday, with a new-issue auction to open trading around 9:30 a.m. ET followed by dissemination of index data.
This follows after VanEck failed to secure SEC’s approval for its Bitcoin spot ETF proposal last week. Meanwhile, its Bitcoin futures ETF had already been approved since late October and now the firm is ready to switch back to a futures ETF.
What To Expect After The Launch
As earlier reported by Coingape, the SEC approved the first Bitcoin futures ETF last month, which broke many records on its first day, sending Bitcoin prices soaring high as a result. The ProShares BITO ETF debuted with a record-shattering influx of capital and a trading volume of around $1 billion. Soon after though, some other ETFs also followed, but VanEck Bitcoin ETF can be expected to bring in similar results to ProShares’, if not more. This is because a Bitcoin-based ETF is expected to have a direct impact on the price of the world’s number one cryptocurrency.
Meanwhile, from the look of things and seeing as the VanEck futures ETF has been approved ever since October, it’s almost safe to say that the rejection of the spot ETF is what is responsible for the firm’s decision to speed up things with regards to the XBTF launch.
- Price Analysis
- Trending
- Keep Network Price Analysis: The KEEP Could Reach The $1.5 Mark If It Reclaims The Crucial Barrier Of $1.08
- Dogelon Mars Analysis: ELON Price Taking A Short Break, Will Its Rally Continue Or Dip More?
- Harmony Price Analysis: When Will ONE Token Retracement Phase End? Watch For These Crucial Support Levels.
- Reserve Rights Price Analysis: The RSR/USD Suggests More 18% Gain In The Upcoming Days
- XRP Price Prediction: Is It A Good Time to Long XRP? Here Are Important Levels to Watch out
- Chiliz Price Analysis: A Breakout From The $0.57 Level Would Initiate Significant Up Movement In CHZ Coin
- Sandbox Price Analysis: SAND Token Gains 12% In Intraday Sessions, Will This Rally Continue?
- Verge Price Analysis: XVG Coin Experiencing Strong Rejection From $0.038 Resistance, Will It Fall Again?
- Shiba Inu Price Prediction: $0.000055 Level Is Crucial For SHIB’s Bullish Breakout
- Kishu Inu Price Prediction: KISHU stares into the abyss as key technical pattern spells doom
- VanEck To Launch Bitcoin Futures ETF Within The Week Here’s What To Expect
- Taproot Goes Live, Here’s All You Need To Know About Bitcoin’s Network Upgrade
- XRP Price Prediction: Is It A Good Time to Long XRP? Here Are Important Levels to Watch out
- Indian Government Meet To Discuss The Future of Cryptocurrency, But The Public Might Not Be Having It
- Indian Security Regulator Approves First ETF That Will Invest In Crypto Firms
- Nigerian Central Bank insists CBDC use amid Bitcoin bull
- Elon Musk Has Sold $6.9 Billion Worth of Tesla Stocks This Week, Is There a Bitcoin (BTC) Connection?
- Shiba Inu Price Prediction: $0.000055 Level Is Crucial For SHIB’s Bullish Breakout
- Is this man the reason behind Chinese Crypto Mining Ban?
- Investment Giant Morgan Stanley Predicts the Next Big Investment Theme of Crypto
