Cboe Global Markets (Cboe), a major US exchange for stock options and futures, announced on Monday that it is set to launch VanEck Bitcoin futures ETF on the 16th. The announcement came as the US SEC rejected the company’s proposal to launch its spot Bitcoin ETF.
The VanEck Bitcoin Strategy ETF, registered under the ticker symbol ‘XBTF’ was approved in late October but was postponed by VanEck. The reason for postponing the launch was not revealed by the company.
The ETF has a net expense ratio of 0.65% which is comparatively lesser than the 0.95% offered by ProShares and Valkyrie Bitcoin futures ETF. At press time, the NLS price stood at $61.32 (November 16, 2:54 PM UTC).
Meanwhile, the SEC rejected the much-awaited VanEck’s application for a spot Bitcoin ETF citing reasons such as its potential for fraud and manipulation.