Leading asset manager VanEck could launch its Bitcoin Futures Exchange Traded Fund (ETF). The platform first applied for a BTC futures-linked ETF in August, and now they have approval. The company filed the filing, according to SEC chairman Gary Gensler earlier this week.

The future of BTC ETFs in the US

Recently, Gensler said he expects regulators to rate ETFs that are specifically linked to Bitcoin futures. Gensler also mentioned the US Investment Company Act of 1940 as possibly being responsible for regulation. The law is different from the Securities Act of 1933, which regulates physical ETFs.

Vaneck follows ProShares, who listed its Bitcoin Strategy ETF on the New York Stock Exchange earlier this week. The two platforms would be the first Bitcoin-linked ETFs to trade in the US, paving the way for a wider investor base.

According to the post-effective filing with the U.S. Securities and Exchange Commission (SEC), the Vaneck Bitcoin Futures ETF will be approved for launch after October 23. As the day falls on a weekend, the community expects the Vaneck Bitcoin Futures ETF to be released on Monday, October 25th.

Forms of different strategies

The Vaneck ETF will not invest directly in Bitcoin or any other digital asset. Your competitions offer direct contact with BTC or Ether (ETH), which the SEC did not approve. VanEcks ETF will be XBTF, ”and the fund uses bitcoin futures contracts with cash settlement. It will provide exposure through cash settled BTC futures contracts. Investors can trade contracts on exchanges registered with the Commodity Futures Trading Commission, pooled investment vehicles and other exchange-traded products.

Valkyrie has also joined the club as the third investment company – and the first crypto-native to receive SEC approval. The company will list its shares in Valkyrie’s Bitcoin Strategy ETF on the Nasdaq.

According to a Valkyrie spokesman, the new ETF is set to start trading on Friday after the company clears the final regulatory hurdles. It is traded under the ticker BTF on the Nasdaq, despite short-lived plans to introduce the more meme-centered ticker BTFD.

Bitcoin exposure

The three Bitcoin Futures ETF approvals mark a milestone for Bitcoin-related exchange-traded funds in the United States. Now investors in the state can participate in an ETF tied to the leading crypto asset Bitcoin (BTC).

However, the US is not the first North American ETF to be approved, as Canada allowed the introduction of physically backed Bitcoin ETFs earlier this year.

The price of Pink bitcoin in anticipation of the launch of Bitcoin futures ETFs and after the successful debut of the ProShares product. Bitcoin price hit a new all-time high of over $ 65,000 yesterday. Bitcoin is currently traded at $ 65,963.33.

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