Av ZyCrypto - 2 år sedan - Lästid: 3 minuter
VanEck lanserar äntligen sin Bitcoin Futures ETF
Viktiga takeaways
VanEck's Bitcoin Strategy ETF is set to launch tomorrow on the CBOE.The futures-based Bitcoin fund will be the “lowest cost” Bitcoin ETF yet. Spot-settled Bitcoin ETFs are still the ultimate goal of the Bitcoin marknaden.A new addition is being made to the number of Bitcoin futures exchange-traded funds on the market. Today, global investment manager, VanEck, announced that it would be launching its Bitcoin Strategy ETF tomorrow – November 16 – on the Chicago Board Options Exchange (CBOE) under the ticker symbol XBTF.
The ETF is a futures-based Bitcoin ETF as the official notice states. The notice describes the ETF as:
“…an actively managed ETF that seeks capital appreciation by investing in standardized, cash-settled bitcoin terminskontrakt.”
It is being marketed by VanEck as the “lowest cost Bitcoin-linked ETF” that was designed to optimize tax efficiency for long-term investors. It will come to market with a net expense ratio 30 basis points lower than its “closest competitor.”
Futures ETF-erbjudandet kommer efter kapitalförvaltarna precis dealt with a rejection of their proposed spot Bitcoin ETF by the SEC last week. Spot-ETF, som också var tänkt att handla på CBOE, avvisades på grund av att den inte uppfyllde SEC:s standarder för förhindrande av marknadsmanipulation.
SEC Endast öppen för terminsbaserade krypto-ETF:er
So far, the SEC remains open to only futures cryptocurrency ETFs for the U.S. market. VanEck’s futures ETF will join ProShares Bitcoin Strategy ETF (BITO) and Valkyrie Bitcoin Strategy ETF (BTF) which are also futures-based ETFs.
BITO hade en fantastisk prestation på baksidan av sin first-mover-fördel och passerade snabbt 1 miljard dollar i tillgångar under förvaltning (AUM). Den har för närvarande cirka 1.6 miljarder USD i AUM enligt data från Coinglass.
BTF hade dock en mer dämpad lansering men har fortfarande fått en del dragkraft och har över $51 miljoner i AUM. Det återstår att se om ett liknande öde väntar VanEcks erbjudande under de kommande dagarna eller om deras lågkostnadserbjudande kommer att hjälpa dem att snabbt ta betydande marknadsandelar.
VanEck has also applied to launch a Bitcoin ETF that offers exposure to Bitcoin genom spårning Bitcoin-fokuserade företag.
Market expectation for a spot-settled Bitcoin ETF is still high
There are still over 20 spot Bitcoin ETF applications with the SEC for both Bitcoin and Ethereum, the second-largest cryptocurrency by market cap. The next deadlines for decisions on spot Bitcoin ETFs are in December when Kyption’s and WisdomTree’s spot Bitcoin ETF applications are bound to know their status from the SEC.
Spot Bitcoin ETFs are in high demand in the market. VanEck is also one of the asset managers eager to provide the offering to investors but is for now settling with what they can get.
“While a ‘physically backed’ bitcoin ETF remains a key goal, we are very pleased to be providing investors with this important tool as they build their digital asset portfolios,” noterade de i sitt pressmeddelande.
However, several analysts including Bloomberg Eric Balchunas and James Seyffart have stated that a spot Bitcoin ETF may not be seen till next year. The ETF expert duo believes an Ethereum-terminsbaserade ETF:er kan få godkännande innan de spot-avräknade ETF:erna ser dagens ljus.
Ursprunglig källa: Zycrypto