According to notice Issued by the Chicago-based CBOE, VanEck is ready to go with the bitcoin futures ETF on the exchange on Tuesday, November 16, as the new fund’s stock will trade under the ticker symbol “XBTF.”

The announcement to start trading the futures bitcoin ETF came after VanEck’s application for spot bitcoin ETF approval was rejected by the SEC just last week.

“VanEck” futures trading fund will start tomorrow, Tuesday:

VanEck’s ETF is set to start trading on the CBOE exchange in Chicago this week, after receiving approval from the SEC since late October.

According to the statement, VanEck Fund stock will begin trading under the ticker symbol “XBTF” on Tuesday, with a new auction being issued to open trading at approximately 9:30 a.m. ET followed by the release of index data.

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As noted, this comes after VanEck failed to gain SEC approval for the Bitcoin spot ETF proposal last week.

Meanwhile, a Bitcoin futures ETF has already been approved since late October, and now the company is ready to return to a futures ETF.

What to expect after launch?

As we mentioned earlier in Bitcoin Arabs, the SEC approved the first Bitcoin futures ETF last month, which broke several records on its first day of trading, sending Bitcoin prices higher as a result.

The ProShares BITO ETF debuted with a record capital inflow and trading volume of around $1 billion.

Soon, some other ETFs followed and appeared, but the VanEck ETF is expected to achieve results similar to ProShares, if not more.

This is because Bitcoin-based ETFs are expected to have a direct impact on the price of the world’s number one cryptocurrency.

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