{"id":141939,"date":"2021-10-16T07:09:15","date_gmt":"2021-10-16T07:09:15","guid":{"rendered":"https:\/\/precoinnews.com\/?p=141939"},"modified":"2021-10-16T07:09:15","modified_gmt":"2021-10-16T07:09:15","slug":"sec-greenlights-proshares-bitcoin-futures-etf-btc-price-nears-ath","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/sec-greenlights-proshares-bitcoin-futures-etf-btc-price-nears-ath\/","title":{"rendered":"SEC Greenlights ProShares Bitcoin Futures ETF, BTC Price Nears ATH"},"content":{"rendered":"
The almost a decade-long quest to get an SEC-approved bitcoin (BTC) ETF running in the US finally comes to fruition with the ProShares\u2019 Bitcoin Futures ETF set to be launched next week.<\/b><\/p>\n The long-awaited bitcoin ETF in the US might is finally set to see the light of day as according to a recent notice from the US Securities and Exchange Commission (SEC), the financial watchdog has accepted the registration of securities from ProShares Trust\u2019s Bitcoin (BTC) exchange-traded fund.<\/p>\n Notably, the aforementioned ETF offers exposure to the premier crypto asset via futures contracts.<\/p>\n Further, ProShares has also filed a post-effective amendment prospectus, indicating that its ETF could launch by October 18 at the earliest.<\/p>\n Notably, the ETF will be listed on the New York Stock Exchange (NYSE) assuming the SEC greenlights the application.<\/p>\n As reported by Bloomberg analyst James Seyffart yesterday, the ETF would be listed with the ticker $BITO and 95 basis points.<\/p>\n The implications of a bitcoin ETF are significant, as can be gauged via the continual rise in BTC\u2019s price anticipating the fund’s launch this coming week. At press time, bitcoin is trading over $62k just about 2-3% shy of its all-time-high value.<\/p>\n The ETF will enable individual investors, to gain easier exposure to bitcoin, and subsequently, allow them to hedge against unchecked inflation caused due to excessive money printing the world over.<\/p>\n It is worthy of note that although the ETF approval is a watershed moment for the crypto industry, the ProShares ETF is based on bitcoin futures contracts that won\u2019t exactly provide exposure to spot or physical bitcoin but rather to a set of financial products such as derivatives.<\/p>\n Speaking to Coindesk<\/i>, ETFStore President Nate Geraci said that the ETF\u2019s approval is a giant step forward in bridging the gap between digital assets and the traditional finance space.<\/p>\n He said:<\/p>\n \u201cIt\u2019s an encouraging sign for the future of crypto to see SEC Chairman Gensler get comfortable in helping mainstream investors more easily access bitcoin exposure. The availability of a bitcoin ETF will now bring more investors under the crypto tent and facilitate greater education across the space.\u201d<\/strong><\/p>\n<\/blockquote>\nSEC Approves ProShares\u2019 Bitcoin Strategy ETF<\/strong><\/h2>\n
\n
Related posts:<\/h3>\n