VanEck Spot Bitcoin ETF Set To Trade On Tuesday

BTC Price Hits $60K | Source: BTCUSD on TradingView.com

The VanEck Bitcoin Futures ETF approval could not be better. Interest in the ETFs had died down considerably after an incredibly successful introduction into the market. What followed had been weeks of low performance as traders cashed out the gains that they had made from investing in the ProShares ETF – the first publicly traded bitcoin ETF – and had seemingly moved on to other options.

BTC price hits $60K | Source: BTCUSD on TradingView.com

With the VanEck ETF set to trade on Tuesday, it is expected that this may give the asset a bit of bump after it had been beaten down from the $69,000 ATH. It may not be the Spot ETF it had hoped for but it is no doubt momentous as it will be only the fourth publicly traded bitcoin ETF in the United States. Furthermore, this could spark renewed interest in futures ETFs, leading to high volumes being traded.

The futures ETF which had been filed with the Securities and Exchange Commission in October will begin trading on Tuesday on the Chicago Board Options Exchange (Cboe). The ETF will trade under the ticker XBTF