Asset management firm VanEck is set to roll out the second exchange-traded fund linked to Bitcoin futures, according to its filing with the Securities Exchange Commission (SEC).
The VanEck Bitcoin Strategy ETF is slated to trade on the Cboe BZX Exchange after October 23. It will only be linked to cash-settled Bitcoin futures and traded on exchanges registered with the Commodity Futures Trading Commission.
The fund will be traded under the ticker symbol “XBTF,” and will start trading “as soon as practicable” after the effective date of the registration statement, October 23 which is on Saturday. This indicates a potential start date of October 25.
The fund will compete with ProShares Bitcoin Strategy ETF launched on Tuesday, which invests in Bitcoin futures contracts rather than the world’s largest digital currency. BITO brought in $570 million during its launch.
Alternative asset management firm Valkyrie has also filed to launch its own Bitcoin futures ETF based on a filing on Monday. BTC is up 1.06%, while BITO is down 2.36% premarket.