By Millennial Investing

The race to get a bitcoin ETF to market has gotten a bit smaller as VanEck has dropped out of the race. Regulators are still being pretty strict when it comes to allowing for a bitcoin ETF. This comes despite the fact that the current offering – the bitcoin investment trust $GBTC – is basically a fraud.

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VanEck is ending its quest for a bitcoin ETF. It’s now a waiting game, as VanEck and other ETF creators will have to wait until bitcoin futures are an actual thing. The CBOE is planning to roll out bitcoin futures in the near future (pun intended), with futures already approved by the CFTC, but an actual bitcoin ETF likely won’t be a thing until 2018. The first bitcoin ETF market will likely have a first mover advantage, but it likely won’t be the Winklevoss Bitcoin Trust (COIN).