Commentary November 16, 2021 at 07:44 AM Share & Print
What You Need to Know
- The VanEck Bitcoin Strategy ETF (XBTF) has a lower fee than the Bitcoin futures ETFs already trading.
- The four new bond ETFs will be DFA’s first.
- Fees on the new DFA funds range from 0.11% to 0.19%.
A third Bitcoin futures ETF is set to debut Tuesday, charging a lower fee than the two already in the market.
The VanEck Bitcoin Strategy ETF (XBTF) will list on the Cboe, with an expense ratio of 0.65% compared with the 0.95% fee charged on the Bitcoin futures ETFs introduced in mid- and late October by ProShares and Valkyrie.
On Friday, the SEC rejected VanEck’s application to trade a spot Bitcoin ETF on the grounds that its listing exchange, the Cboe, failed to demonstrate it had sufficient means “to prevent fraudulent and manipulative acts and practices” and “to protect investors and the public interest.”
VanEck CEO Jan van Eck said afterward he was disappointed with the SEC’s decision and continues to believe that a regulated spot Bitcoin ETF is a “superior approach” to a Bitcoin futures ETF for getting exposure to the cryptocurrency.
The firm’s Inflation Allocation ETF (RAAX), which invests in other ETFs, also provides exposure to Bitcoin-focused products and owns the Purpose Bitcoin ETF (BTCC), which invests in spot Bitcoin and trades on the Toronto Stock Exchange in Canada.
DFA Readies First Bond ETFs
Also on Tuesday, Dimensional Fund Advisors will launch its first bond ETFs, as previously announced, on the New York Stock Exchange.
They include the Core Fixed Income ETF (DFCF), Short-Duration Fixed Income ETF (DFSD), Inflation-Protected Securities ETF (DFIP) and National Municipal Bond ETF (DFNM).