VanEck is set to debut the VanEck Bitcoin Strategy ETF (BATS:XBTF) tomorrow, after delays, making it the third Bitcoin Strategy ETF as per a new-issue notification from the Cboe. XBTF will trade alongside rival funds ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) and Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF). Like BITO and BTF, the VanEck ETF will offer investors a way to gain exposure to Bitcoin (BTC-USD) through the futures market. The fund will be an actively managed ETF and plans to achieve its investment objective by investing in standardized, cash-settled Bitcoin-futures contracts traded on commodity exchanges registered with the Commodity Futures Trading Commission. However, XBTF will not invest in Bitcoin or other digital assets directly, as that hasn't been deemed legal by U.S. ETF regulators. Differentiating between Bitcoin Futures ETFs can be challenging, as the three available funds are essentially the same -- just put together by different ETF issuers. However, market participants might give an edge towards
