VanEck, the U.S.-based manager with USD82.2bn AuM, has announced the imminent launch of its VanEck Bitcoin Strategy ETF (XBTF), an actively managed ETF that seeks capital appreciation by investing in standardised, cash-settled bitcoin futures contracts. XBTF is expected to list on Cboe on November 16, 2021. XBTF is the first ETF in VanEck’s suite of U.S.-listed funds to provide exposure to bitcoin futures and joins VanEck Inflation Allocation ETF (RAAX) in providing investors with bitcoin exposure. State Street will provide services including ETF basket operations, custody of the ETF shares, fund accounting, order-taking and transfer agency.
