VanEck has launched the VanEck Bitcoin Strategy ETF (BATS:XBTF), the market's third Bitcoin strategy fund. XBTF started trading as of 9:30 a.m. ET and witnessed just under 2M worth of shares exchange hands in the first thirty minutes of trading, nowhere near its competitor ProShares Bitcoin Strategy ETF (NYSEARCA:BITO), which transacted nearly $290M worth of shares in just the first 20 minutes of its trading life. The VanEck ETF will provide participants exposure to Bitcoin (BTC-USD) through the futures market. The exchange traded fund is actively managed and will achieve its investment objective by investing in standardized, cash-settled Bitcoin-futures contracts traded on commodity exchanges registered with the Commodity Futures Trading Commission. XBTF, just like BITO, will not invest in Bitcoin or other digital assets directly, as that has still not been approved by financial regulators. One unique differentiating factor that XBTF has over its competitor fund BITO is that it has a lower
