The ProShares BTC Futures ETF will likely hit wall street today, October 19th so let’s prepare for it by reading our latest bitcoin news today.
The long-awaited launch of a Bitcoin futures ETF in the US could be over as the most recent reports claimed that these products will go live for trading today, October 19th. The topic of whether or not the US SEC will approve an exchange-traded fund tracking the performance of BTC was going on for years. Following dozens of rejections, the watchdog seems to have changed its mind on the ETF for Bitcoin futures contracts as the reports showed.
A more recent one was from the New York Post that provided a specific date when this product will go live in the US. It shows that ProShares BTC futures ETF will go live on Tuesday, October 19th and that the New York Stock Exchange confirmed that the formers’ BTC futures ETF will be released. Michael Sapir, the CEO of ProShares as the issuer of the ETF said that this year will be remembered for this milestone. He thinks that the investors that have been staying away from the asset will receive convenient access to BTC in the wrapper that has market integrity. SEC chairman Gary Gensler hinted in the past that a Bitcoin Futures ETF could be approved due to the enhanced protection of the investors while ProShares filed for the first strategy ETF earlier this year.
As recently reported, The US Securities and Exchange Commission gave its approval for the first Bitcoin ETF. ProShares filed a prospectus on Friday and indicated that it has recieved the green light for its Bitcoin Strategy ETF to start trading on Monday. The company’s ETF is tied to BTC futures contracts rather than directly to the price of Bitcoin but its approval still represents a huge landmark moment for the entire industry. After delaying and ignoring dozens of applications, now ProShares is the chosen one that will trade a Bitcoin Futures ETF as the SEC will allow it. The company’s ETF is tied to Bitcoin’s futures contracts and not the price of bitcoin. ETFs are an investment product that tracks the price of stocks, commodities, or other assets, and they are traded on a public exchange like stocks.
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