VanEck, one of the first US-based asset managers to apply for a Bitcoin Exchange Traded Fund (BTC) (ETF), has finally launched its Bitcoin Futures ETF.

According to an official announcement by the Chicago Board of Options Exchange (CBOE), the VanEck Bitcoin Tactic ETF will start trading on the CBOE under the symbol XBTF from November.

VanEck’s new ETF joins the growing number of BTC futures-based ETFs entering the US market, including ProShares’ Bitcoin Tactic ETF, which is the first Bitcoin futures ETF to start trading. Traded on the New York Stock Exchange on October 19th. Bitcoin from the Valkyrie System ETF began trading on Nasdaq in late October under the ticker BTF.

XBTF’s CBOE listing comes just days after the US Securities and Exchange Commission officially rejected VanEck’s application for a spot Bitcoin ETF. The SEC believes that the proposed rule change for the listing of ETFs does not meet the standards of “preventing fraudulent and manipulative practices and practices” or “protecting investors and the public interest”.

VanEck was founded in 1955 and is an American asset management company specializing in gold issues as well as ETFs and mutual funds. VanEck is known in the crypto community as one of the first US companies to apply for a Bitcoin futures ETF. The company has since filed several BTC ETF filings with the SEC but has only received its ETF futures approval so far.

VanEck did not immediately respond to Cointelegraph’s request for comment.

Related: The ProShares Bitcoin Futures Fund is among the top 2% of all ETFs by volume

As previously reported by Cointelegraph, SEC chairman Gary Gensler previously indicated that the SEC would be more open to accepting ETFs based on crypto futures than through direct contact.

However, some companies like Bitwise Asset Management remain bullish about a potential Bitcoin-only ETF, with the company even making a decision last week to forego its ETF futures filing. “Ultimately, many investors want a spot Bitcoin ETF. We think it’s possible. Bitwise will continue to pursue this goal and we will look for other ways to help investors access the incredible opportunities in cryptocurrencies, ”said Bitwise Chief Investment Officer Matt. Hougan.

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