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The first Bitcoin futures ETF could begin trading on Monday
It appears that years after the first Bitcoin ETF proposal was submitted, the United States Securities and Exchange Commission (SEC) has decided to greenlight a futures-backed exchange-traded fund for the first time. ProShares, the company that filed for its Bitcoin strategy ETF, could be the very first to launch next week. An amended prospectus was enough to suggest that it could go live as early as Monday. It is worth noting that this is not a standard ETF, but rather a futures-backed one, where the product is tied to Bitcoin futures contracts rather than Bitcoin itself. Still, this is an important milestone for the cryptocurrency industry and one that...
The first Bitcoin futures ETF could begin trading on Monday
It appears that years after the first Bitcoin ETF proposal was submitted, the United States Securities and Exchange Commission (SEC) has decided to greenlight a futures-backed exchange-traded fund for the first time.
ProShares, the company that filed for its Bitcoin strategy ETF, could be the very first to launch next week. It submitted amended prospectus which suggests it could go live as early as Monday. It is worth noting that this is not a standard ETF, but rather a futures-backed one, where the product is tied to Bitcoin futures contracts rather than Bitcoin itself. Still, this is an important milestone for the cryptocurrency industry and one that could have significant implications in the future. Exchange Traded Funds offer an easier way to gain regulated and secure exposure to the underlying asset. They are a traditional investment vehicle – one that investors are already very familiar with and provide a very convenient onboarding tool when it comes to gaining Bitcoin exposure.
This story is developing and may be updated in the future.
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