Saturday, December 3, 2022
HomeNewsFirst US Bitcoin Futures ETF Could Debut On Monday

First US Bitcoin Futures ETF Could Debut On Monday

- Advertisement -

Filing says the first US bitcoin futures ETF could debut on Monday. Updated on October 16,

Asset manager Pro Shares on Monday hinted at plans to launch a bitcoin futures exchange traded fund, an action that would end an eight-year wait for cryptocurrency-aware security in the US stock market.

- Advertisement -

The fund manager filed and updated prospectus with the Securities and Exchange Commission for Bitcoin Strategy ETF (Tucker BITO) Friday late. The filing states the expected launch date of the fund on October 18, which will trade on the NYSE Arca Exchange and charge a management fee of 9 0.95. A ProShares official declined to comment. A SEC spokesman did not immediately respond to request for comment.

Bloomberg News reported on Thursday that according to people familiar with the matter, the SEC is unlikely to stop the product from starting trading next week. With the exception of the last-minute reversal, the launch of the fund marks the end of the decade 6.7 trillion ETF industry’s nearly decade-long campaign. Cameron and Tyler Winkleus, the twins known for their part in the history of Facebook Inc., filed their first application for the Bitcoin ETF in 2013.

Bitcoin is approaching its record on ETF
Bitcoin is approaching its record on ETF

An ETF issu has been out of the grasp of US issuers for almost a decade, with regulators citing concerns over everything from price manipulation to verification of coin ownership of funds. Mood music changed in August, when SEC chief Gary Jensler indicated he would support CME-traded bitcoin futures funds filed under the 1940s law – a position he had previously taken. Repeated at the end of the month.

This openness led to a flood of future-backed filings. Wall Street could see four futures-backed bitcoin ETFs start trading on U.S. exchanges this month, with the deadline for applications from Invesco Ltd., Wenick and Walkery approaching.

An ETF should be more convenient to use for retail investors who are riding the frequent hair-raising fluctuations of bitcoin. Like oil and gold tracking securities, it will switch hands to relatively familiar US stock market locations whose functions are imposed on some consumers, rather than cryptocurrencies or futures exchanges.

Bitcoin has risen in recent weeks, with speculation that a US launch may be possible. The world’s largest cryptocurrency crossed $ 62,000 for the first time since April on Friday, well below its all-time high of $ 64,869 earlier this year. The bitcoin has doubled since the end of July.

- Advertisement -
Muhammad Fayyaz - Top Story. Dedicated To Providing The Best Of Story. Top Stories, News Update, Technology, Drama, Alparslan, Barbaros, Kurulus Osman, History, Life Style


Please enter your comment!
Please enter your name here


Nora Fatehi

Nora Fatehi delivered an electrifying performance on the FIFA World Cup 2022 fan fest...

At the FIFA World Cup 2022 fan festival, Nora Fatehi waved the Indian flag and chanted Jai Hind. She proudly stood on the stage...
Azam Swati

Senator Azam Swati of the PTI is judicial custody for 14 days, until December...

The Federal Investigation Agency (FIA) arrested Azam Swati for the second time in less than two months earlier this week for a "highly obnoxious...
Fawad Chaudhry

PTI is willing to talk to the federal government about the upcoming elections

Despite its decision to dissolve the Punjab and Khyber-Pakhtunkhwa assemblies, the Pakistan Tehreek-e-Insaf (PTI) is reportedly willing to negotiate the next electoral framework with...
Rabeeca Khan

Rabeeca Khan new dance video impresses fans

Rabeeca Khan, a TikTok starlet, rose to prominence at a young age. She has a large number of followers on TikTok, YouTube, and Instagram. Rabeeca...
Ayesha Dance

A viral girl’s Ayesha new dance video goes viral

Ayesha, Pakistan's internet sensation whose dance performance catapulted her to fame overnight, recently stunned fans with her latest dance moves. Ayesha has skyrocketed to unprecedented...
- Advertisment -

Most Popular