Home Cryptocurrency VanEck Bitcoin Strategy ETF will likely launch next week as crypto prices reach ATHs

VanEck Bitcoin Strategy ETF will likely launch next week as crypto prices reach ATHs

by Serge Shlykov

VanEck is the first company to launch a Bitcoin Strategy ETF, which will allow investors to gain exposure to Bitcoin without having to purchase it directly. The decision comes as Bitcoin prices have reached all-time highs and the cryptocurrency continues its dominance in the market.

Bitcoin has reached all-time highs and is now the most valuable cryptocurrency. The VanEck Bitcoin Strategy ETF will likely launch next week as crypto prices reach ATHs. Read more in detail here: why did bitcoin spike.

 

The Securities and Exchange Commission, or SEC, is anticipated to approve asset management VanEck’s Bitcoin Strategy exchange-traded fund (ETF) on Monday, with trading to begin on Tuesday.

VanEck said in a filing with the Securities and Exchange Commission on Wednesday that the public offering of its Bitcoin (BTC) Strategy ETF, which provides exposure to the crypto asset through futures contracts, would begin “as soon as practicable” after the filing’s effective date, which is Saturday. This implies that the company’s stock may be listed on a stock market as soon as Monday.

VanEck’s ETF would provide exposure to BTC and Ether (ETH) through cash-settled BTC future contracts traded on exchanges registered with the Commodity Futures Trading Commission, pooled investment vehicles, and other exchange-traded products, unlike exchange-traded funds that offer direct exposure to BTC or Ether (ETH), which the SEC has not approved. VanEck may follow ProShares, which debuted its Bitcoin Strategy ETF on the New York Stock Exchange on Monday, after initially applying for the BTC futures-linked ETF in August.

Is This the Season for ETFs? Related: Crypto Market Cap Breaks $2.5 Trillion — Is This the Season for ETFs?

The possibility of a VanEck ETF listing comes as the values of bitcoin and ether have hit fresh all-time highs. BTC and ETH are now trading at $65,955 and $4,003, respectively, according to Cointelegraph Markets Pro statistics. The entire crypto market value has also hit a record high of approximately $2.63 trillion, mostly due to Bitcoin’s price rise.

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