VanEck, one of many first United States-based asset managers to file for a Bitcoin (BTC) exchange-traded fund (ETF), is lastly launching its Bitcoin (*16*) ETF.
In accordance to an official discover by the Chicago Board Choices Change (CBOE), VanEck’s Bitcoin Technique ETF will begin buying and selling on CBOE beneath the ticker image XBTF on Tuesday.
VanEck’s new ETF is becoming a member of the rising variety of BTC (*16*)-based ETFs launched within the U.S., together with the ProShares Bitcoin Technique ETF, which grew to become the primary Bitcoin (*16*) ETF to begin buying and selling on the New York Inventory Change on Oct. 19. Valkyrie’s Bitcoin Technique ETF began buying and selling on Nasdaq beneath the BTF ticker in late October.
CBOE’s itemizing of XBTF comes simply a few days after the U.S. Securities and Change Fee formally rejected VanEck’s spot Bitcoin ETF software. The SEC argued that the proposed rule change to listing the ETF didn’t meet requirements to “prevent fraudulent and manipulative acts and practices” or “protect investors and the public interest.”
Launched again in 1955, VanEck is a U.S. asset supervisor specializing in thematic and gold-based ETFs and mutual funds. VanEck is understood within the crypto group as one of many first U.S. corporations to ever file for a Bitcoin (*16*) ETF. The agency has submitted a number of BTC ETF filings with the SEC since then however has solely managed to get its (*16*) ETF permitted to date.
VanEck didn’t instantly reply to Cointelegraph’s request for remark.
Associated: ProShares Bitcoin (*16*) fund in prime 2% of all ETFs for quantity
As beforehand reported by Cointelegraph, SEC Chair Gary Gensler beforehand hinted that the SEC can be extra open to accepting ETFs based mostly on cryptocurrency (*16*) moderately than via direct publicity.
Nonetheless, some corporations, corresponding to Bitwise Asset Administration, stay bullish on a possible pure Bitcoin ETF, with the agency even deciding to drop its (*16*) ETF submitting final week. “Ultimately, what many investors want is a spot Bitcoin ETF. We think that’s possible. So Bitwise will continue to pursue that goal, and we will look for other ways to help investors get access to the incredible opportunities in crypto,” Bitwise chief funding officer Matt Hougan stated.