They follow on the heels of the ProShares Bitcoin Strategy ETF which debuted Tuesday.

Wealth manager Vaneck has won SEC approval to launch a bitcoin futures ETF after October 23, according to a post-effective filing with the U.S. Securities and Exchange Commission. This is the second such ETF to be cleared after the ProShares bitcoin ETF (NYSEArca: BITO), and will trade under the moniker XBTF. (Bitcoin.com)

Meanwhile, a bitcoin futures ETF proposed by Valkyrie Investments will be the third such vehicle to go live on US markets. It will begin trading on Friday on the Nasdaq under the ticker BTF.

Investors will therefore soon have a choice of three ETFs for assuming bitcoin ETFs, a sea-change from the years of waiting for such an opportunity given the SEC’s reluctance to approve an ETF based on physical (not futures) bitcoin.

Hopefully, the passage of futures-based crypto ETFs will eventually pave the way for the SEC to clear one based on spot bitcoin.

In anticipation, Grayscale Investments LLC, together with the NYSE, this week filed with the SEC to convert the Grayscale Bitcoin Trust (GBTC) into a physical bitcoin ETF. They applied on the same day that the ProShares Bitcoin ETF opened for trading.

Bitcoin: Blistering rally

The advent of the ProShares bitcoin ETF, and imminent new ETF launches, galvanized bitcoin into a rally that took it past its previous all-time high in April to a new high this week of $67,017.

The ProShares ETF made a scintillating debut on Tuesday, pulling in $570 million of assets, and clocking a turnover of over $1 billion.

Eric Balchunas, the senior ETF analyst for Bloomberg said Wednesday that BITO is already “in the top 30% of ETFs by assets and a near-lock to exceed my $750m by end-of-week estimate.”

Related Story: Encouraged By BITO, Grayscale Files To Convert GBTC Into An ETF