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Is Direxions Short-Bitcoin Futures product a dared step?
US ETF issuers are looking for new ways a week after the market launch of the Bitcoin ETF to attract institutes. On the one hand, Direxion offers an ETF that sells crypto futures empty. October 19 was a monumental day for the entire cryptocurrency industry. Immediately after Bitcoin ETF from Proshares, an impressive volume welcomed the New York Stock Exchange (NYSE), Bitcoin rose to record levels. With Bito's debut, the rally was further expanded. But this time the companies become a little more creative with their offers. According to a current submission with the Securities and Exchange Commission (SEC), the stock market -traded fund "Direxion Bitcoin Strategy ...
Is Direxions Short-Bitcoin Futures product a dared step?
A week after the market launch of the Bitcoin ETF,US EDESTERS are looking for new ways to draw the attention of institutes. On the one hand, Direxion offers an ETF that sells crypto futures empty.
October 19 was a monumental day for the entire cryptocurrency industry. Right after bitcoin-eTf from Proshares welcomed an impressive volume on the New York Stock Exchange (NYSE), Bitcoin rose to record levels. With Bito's debut, the rally was further expanded. But this time the companies will be a little more creative with their offers.
according to a current Submission With the Securities and Exchange Commission (SEC), the stock market-traded fund "Direxion Bitcoin Strategy Bear" is intended to offer a managed short engagement in CME-Bitcoin-futures contracts. In particular, the product will not invest directly in Bitcoin (BTC).
the ETF of Direxion: creative, but there are risks
For the uninitiated, empty sales are a bet that assumes that the price of the financial value will decrease over a certain period of time. Despite the creative nature of Direxion Bitcoin ETFs, there are several risks that investors should consider. In addition to other risks related to liquidity and futures roll, the high volatility of the underlying crypto asset can be another factor that requires the attention of investors.
The SEC registration warned the market participants and explained:
"If you are not ready to accept significant and unexpected value changes from the fund and the possibility that you could lose your entire facility in the fund, you should not invest in the fund."
Will the SEC loosen your handle?
This is not the first Bitcoin ETF proposal from Direxion. In fact, the SEC had rejected its efforts in the past three years. In addition, Valkyrie investments also added a creative turn by trying to increase the leverage. According to the Submissions On Tuesday, the crypto investment company is planning to offer investors in the USA a 1.25-way Bitcoin Futures ETF.
The SEC has not yet registered spot ETFs. Even if the entry of the Bitcoin ETF on Wall Street was only a definitive step forward, it is not easy to impress the regulatory authority.
It took several years for the SEC to approved a market -traded product. Whether the two ETFs in question make it to the Nasdaq will only be shown over time.
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