VanEck to Launch Bitcoin Futures ETF ‘XBTF’ Next Week After SEC Rejects Spot Offering
The investment firm VanEck’s bitcoin futures exchange-traded fund (ETF) is set to debut on the Chicago-based CBOE exchange next week, going live after delays since winning U.S. Securities and Exchange Commission approval in late October.
The CBOE said in a notice on its website that the new VanEck Bitcoin Strategy Fund will start 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.
VanEck confirmed the planned launch in a press release Monday.
The launch date announcement comes just after the SEC late last week rejected VanEck’s proposal for a “spot bitcoin ETF” – one that invests directly in bitcoin rather than the futures contracts. The agency had previously delayed its final decision on the proposal in September.
Read more: SEC Rejects VanEck’s Spot Bitcoin ETF Proposal
UPDATE (Nov. 15, 18:00 UTC): Adds that VanEck confirmed the planned launch in a press release Monday and fund net expense ratio.