On the day during which BTC returns, even if only for a few tens of minutes, below altitude $ 59,000 there is something moving on the upper floors of the international finance and that can only interest those who are investing in the first cryptocurrency in the world.
Let’s talk about the third ETF, this time of VanEck, which is listed at the CBOE and which completes the first triptych of Exchange Traded Funds in United States which replicate, once again, however, based on the price of Futures listed on Chicago, the price of $ BTC.
The third BTC ETF arrives: here’s how it works
ETF which has been traded for a few hours on American markets is the third in chronological order, after the debut took place a few weeks ago, with the first product accepted by SEC which was precisely of ProShares.
Also in this case we are faced with a product that replicates the trend of BTC futures, according to the desired from SEC, which for reasons that honestly elude us continues to prefer this type of products compared to those a physical replica.
Arrived third and then in delay compared to the first two, VanEck BTC Strategy has decided to try to gain market share by offering management fees lowest among the products that have already been listed. A predictable move, given that in particular that of ProShares has already collected important adhesions.
Will there be room in the US for so many BTC ETFs?
Absolutely yes. The success of BTC, net of the natural correction that took place in the night before, it is there for all to see – and ProShares is already having problems in terms of contracts futures that he can buy to cover his own stocks. Something to necessarily take into account since other types of will arrive ETF on the market USA.
There are still several in the process of being approved, with the management company who have no intention of backing down despite losing the time record train.
What Kind of News For BTC?
Great news. Even if purists are not interested in this type of product, we are still in front of one normalization from BTC as an investment asset. A normalization that will bring even larger institutional investors closer to the world of BTC, thus exerting positive pressure on the price.