USA’s 2nd Bitcoin ETF may commence from next week
On Wednesday, US investment company VanEck submitted a “post-valid prospectus” concerning its application of the Bitcoin Futures ETF submitted to the US SEC.
The company revealed that the ETF has been approved by the SEC and can be listed on the CME as early as October 23rd.
In the N-1 document submitted by VanEck, the company applied for the Bitcoin ETF application to be effective starting Saturday, October 23rd. However, since most of the traditional financial markets where ETFs are traded are closed during the weekend, VanEck will likely list the ETF starting next week, that is, October 25th.
The company will list the product under the ticker symbol ‘XBTF’. Apart from investing in CME Bitcoin Futures rather than in-kind purchases, the ETF will invest in US Treasury, Money market fund, Cash equivalent, Mortgage-backed securities (MBS), and Local bonds.
VanEck also filed an ETF application in August to include Ethereum futures in its portfolio.
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