ProShares Bitcoin Futures ETF to Begin NYSE Buying and selling on Tuesday: Report

 ProShares Bitcoin Futures ETF to Begin NYSE Buying and selling on Tuesday: Report



ProShares will launch a bitcoin futures exchange-traded fund (ETF) tomorrow, the New York Occasions reported in its DealBook publication.

  • The U.S. Securities and Alternate Fee (SEC) greenlighted bitcoin futures ETFs on Friday.
  • ProShares filed for its Bitcoin Technique ETF this previous summer time. The fund is linked to bitcoin futures traded on the Chicago Mercantile Alternate.
  • With the SEC mulling over dozens of bitcoin ETFs, Chair Gary Gensler has made it clear that funds linked to the futures market moderately than the underlying asset usually tend to win regulatory approval.
  • NYSE head of exchange-traded merchandise Douglas Yones told DealBook, “That is an thrilling step however not the final.”
  • Information of long-awaited approval for a bitcoin-related ETF despatched the world’s largest crypto by market worth to ranges not seen since April. Bitcoin climbed above $60,000 for the primary time in practically six months on Friday.
  • There might be hopes that the debut of a bitcoin ETF on the NYSE will open the floodgates to a stream of comparable merchandise successful regulatory approval and accelerating the stream of funding into crypto.

Learn extra: Grayscale Mentioned Near Submitting to Convert Bitcoin Fund Into Spot ETF: CNBC

UPDATE (OCT 18, 11:51 UTC): Provides bitcoin futures to headline, quote in sixth bullet level, background beginning in third.



Source link

Related post