The long-awaited launch of a Bitcoin futures ETF in the US could come to an end as recent reports say these products will start trading today, October 19th.NS. The issue of whether the US SEC approves an exchange-traded fund tracking BTC activities has been going on for years. After dozens of rejections, the watchdog appears to have changed its mind on an ETF for Bitcoin futures contracts, reports suggest.
More recently, the New York Post has announced a specific date that this product will be available in the United States. It shows that the BTC ProShares Futures ETF will go live on Tuesday October 19thNS and the New York Stock Exchange have confirmed that a Miners BTC Futures ETF will be released. Michael Sapir, CEO of ProShares as an ETF issuer, said this year will be remembered for this important milestone. He argues that investors who have shied the asset will get convenient access to BTC as part of market integrity. SEC chairman Gary Gensler previously suggested that a Bitcoin futures ETF could be approved due to improved investor protection, while ProShares launched its first strategic ETF earlier this year.
As recently reported, the US Securities and Exchange Commission approved the first Bitcoin ETF.
ProShares filed a prospectus on Friday, stating that it had received the green light to start trading its Bitcoin strategy ETF on Monday.
The company’s ETF is tied to BTC futures contracts rather than directly tied to the price of Bitcoin, but its approval still marks a turning point for the entire industry. After dozens of applications have been delayed and ignored, ProShares is now the pick for it trading Bitcoin ETF futures as the SEC allows. The company’s ETF is tied to Bitcoin futures contracts, not the Bitcoin price. An ETF is an investment product that tracks the prices of stocks, commodities or other assets and is traded like stocks on a public stock exchange.
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