The US Securities and Exchange Commission (SEC) has approved the ProShares application to launch the Bitcoin Futures ETF. Trading starts on Monday, October 18th.
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The deed is done. Home free… $BITO pic.twitter.com/Qf3U9quSfy
— Eric Balchunas (@EricBalchunas) October 15, 2021
The underlying asset of the fund will be Bitcoin futures on the Chicago Mercantile Exchange (CME).
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 ProShares fund took place on Friday, October 15th.
Coindesk writes:
“The Securities and Exchange Commission (SEC) greenlighted bitcoin futures ETFs in a first for the industry on Friday, after the regulator’s five commissioners met on the issue. ProShares, which filed for its Bitcoin Strategy ETF this past summer, may be the first to launch next week.”
Bloomberg recently announced that the SEC will not stop the launch of Bitcoin futures ETFs.
Nasdaq has also indicated its willingness to add a listing for a fund, the Valkyrie ProShares has also filed Form 8-A which registers ETFs shares with SEC for trading on an exchange.
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If anyone needs more evidence that this is happening on Tuesday. Proshares' 8A just hit which registers the ETF's shares with the SEC for trading on an exchange. pic.twitter.com/Idp6cm4qet
— James Seyffart (@JSeyff) October 15, 2021
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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