The US Securities and Exchange Commission (SEC) has likely approved asset manager VanEck’s Bitcoin Strategy (ETF) exchange-traded fund, with trading expected to begin Monday.
In a filing with the SEC on Wednesday, VanEck called The public release of its Bitcoin Strategy ETF, which enables exposure to crypto assets through futures contracts, will begin as soon as possible after the effective filing date on Saturday. This suggests the company could list its shares on a stock exchange as early as Monday.
Unlike ETFs that offer direct exposure to BTC or ETH that have not been approved by the SEC, VanEck ETFs offer transparency through traded BTC futures contracts with cash settlement. traded products.
The potential listing of the VanEck ETF comes when the BTC price hits a new all-time high of $ 66,955. Mainly due to Bitcoin’s price volatility, the total crypto market capitalization has hit a new high of around $ 2.63 trillion.
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According to Cointelegraph