The Securities and Exchange Commission of the US has accredited the listing of the Third Bitcoin ETF with the ticker XBTF.
Previously, the SEC didn’t approve VanEck’s spot Bitcoin ETF due to the unclear laws of the decentralized cryptocurrency market, which creates extra risks for U.S. buyers.
XBTF is not going to be the primary Exchange-Traded Product related to Bitcoin; the ProShares BITO that began trading on Oct. 19 was the primary fund for U.S. investors. The release of the ETF was kindly welcomed by an industry that acquired a further $1.2 billion of inflows on the primary week of ETF trading.
The second product from Valkyrie has been trading under the BTF ticker since Oct. 22nd, when the spot Bitcoin pair was trading at around $60,720.
Futures-based Bitcoin ETFs nonetheless stay the only potential options for cryptocurrency market exposure for institutional buyers in the U.S.