Another bitcoin exchange traded fund (ETF) made its debut in the markets. Less than a month after ProShares launched the first bitcoin ETF in the markets, investment firm VanEck's Bitcoin Strategy ETF (XBTF) has begun trading at Cboe Global Markets (CBOE) on Nov. 16, 2021. The fund tracks prices for bitcoin futures traded at the Chicago Mercantile Exchange (CME). It is a cash-settled futures fund, meaning it tracks prices for bitcoin futures and is settled in cash, instead of actual bitcoin.
«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,» said Kyle DaCruz, VanEck's director of digital assets, in a statement.
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