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 futures contracts.”
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.”
