VanEck Bitcoin futures ETF launches on CBOE Nov 16

VanEck is one of the first US asset managers to apply for a Bitcoin Exchange-traded fund (ETF).

According to an official notice by the Chicago Board Options Exchange (CBOE), Bitcoin futures ETF from American investment manager VanEck will begin trading on the CBOE under the ticker symbol XBTF on Tuesday.

Just a couple of days ago, the US Securities and Exchange Commission officially rejected VanEck's spot bitcoin ETF application. According to the commission filing, the Bitcoin spot market is prone to "fraud and manipulation" and any rule change in favor of approving the ETF would not be "designed to prevent fraudulent and manipulative acts and practices" nor "protect investors and the public interest."

Earlier in October, the Commission approved the launch of Bitcoin ETF futures from VanEck and Valkyrie Investments.

Prior to this, the SEC made a similar decision on the application from ProShares.

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