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SEC Approves First Bitcoin Futures ETF

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The U.S. Securities and Exchange Commission (SEC) has approved ProShares’ application to launch a Bitcoin Strategy ETF futures exchange-traded fund. This follows from the updated prospectus submitted by the company.

The deed is done. Home free… $BITO pic.twitter.com/Qf3U9quSfy

— Eric Balchunas (@EricBalchunas) October 15, 2021

The start of trading is scheduled for Monday, October 18.

The underlying asset of the fund will be bitcoin futures on the Chicago Mercantile Exchange (CME). In the updated prospectus, the mention of investments in Canadian bitcoin ETFs has disappeared.

Importantly. The new prospectus looks to have taken out the language for investing in Canadian ETFs. First is the new prospectus. Second is the old prospectus. pic.twitter.com/St7kvs3UyQ

— James Seyffart (@JSeyff) October 15, 2021

According to CoinDesk, the meeting of the five SEC commissioners on the issue of the fund from ProShares took place on Friday, October 15.

Earlier, Bloomberg reported that the SEC will not prevent the launch of bitcoin futures ETFs. The company’s terminal also has a corresponding page for the fund from ProShares under the ticker BITO.

Nasdaq also expressed its readiness to add securities of a similar fund Valkyrie Bitcoin Strategy ETF to the listing.

#SEC #Approves #Bitcoin #Futures #ETF

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