VanEck’s Bitcoin ETF Product May Hit Public Bourse Next

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VanEck Bitcoin Strategy ETF may be the next Exchange Trade Product to go live in the United States, as the company’s recent filing with the Securities and Exchange Commission (SEC) shows. VanEck said its ETF product will go live “as soon as practicable” after the effective date of the filing which is this Saturday, October 23.

The open-ended statement can see VanEck’s ETF launch anytime from Monday to Friday, or as it will deem fit based on market conditions and other factors. The VanEck Bitcoin Strategy ETF is an actively managed exchange-traded fund that seeks to achieve its investment objective by investing in standardized, cash-settled bitcoin futures contracts. These futures products, per the firm, must be traded on commodity exchanges registered with the Commodity Futures Trading Commission such as the Chicago Mercantile Exchange.

As a long-time application for a Bitcoin ETF product in the United States, VanEck is poised to see the floating of the product as a win, while devising means to maximize the potential debut of the new investment vehicle on Wall Street. The interest in ETF products is not uncommon in the mainstream financial ecosystem, and with the eventual debut of the second ETF product after ProShares’, investors will have options to choose from.

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Driving Crypto Adoption: the Place of VanEck Bitcoin Strategy ETF 

The eventual advent of the VanEck ETF product will further lend credence to the efforts by both American authorities and investors to help advance the broad integration of the digital currency industry.

The emergence of the ProShares ETF product came as a result of incessant clamor for such related products by the investment community, and VanEck’s approval is a conviction that the market regulator is all out on this journey. 

With the Futures linked ETF now trading in the US, there is growing anticipation for a related product that is physically backed by Bitcoin. Bitcoin ETF applicants, particularly Bitwise, believe it has effectively addressed the core concerns the US SEC noted over the years for rejecting several applications in the past.

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The central idea of a Bitcoin ETF product is to create a regulatory avenue by which investors can gain exposure to the digital currency without holding the actual asset. It is an advanced investment tool, and its existence has the tendency to usher in more conservative investors who are otherwise skeptical of the nascent and volatile cryptocurrency industry.

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