On Tuesday, November 16, at the Chicago Board Options Exchange (CBOE), trading began for VanEck’s bitcoin futures ETF under the ticker XBTF.
VanEck Bitcoin Strategy ETF became the third such instrument on U.S. exchanges after products from ProShares and Valkyrie Investments, listing on NYSE and Nasdaq respectively.
The proposal to launch a bitcoin futures ETF was approved by the U.S. Securities and Exchange Commission (SEC) in late October, alongside Valkyrie Investments’ filing .
The opening price for XBTF shares stood at $60.91. In the first hour of trading, quotes fell to $60.60 and rose to $61.43.
The start of trading came on a day when the spot price of Bitcoin dipped below the $59,000 level .
Earlier, the SEC rejected VanEck’s application to launch a bitcoin ETF. The company filed the prospectus in early March, but the regulator postponed the decision twice— in April and June.
Bloomberg Intelligence analyst predicted that the SEC would be more likely to approve a futures Ethereum ETF than permit the launch of an ETF based on the spot price of Bitcoin.
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