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Third US bitcoin futures ETF launches after weeks-long delay
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livemint.comVanEck’s Bitcoin futures ETF finally launched Tuesday after a multiweek wait and a rejection from U.S. regulators for a physically-backed product.
The VanEck Bitcoin Strategy ETF (ticker XBTF) began trading with a management fee of 0.65%, the lowest expense ratio among the three such funds available, according to a press release. VanEck’s ETF had been expected to debut in October, but heavy demand for the ProShares Bitcoin Strategy ETF (BITO) -- one of the most successful debuts of all time -- stretched capacity among futures commission merchants, according to a person familiar with the matter.
The launch comes days after the U.S. Securities and Exchange Commission rejected the firm’s proposal for an ETF that would directly hold Bitcoin.
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