The first official Bitcoin futures ETF within the US would begin trading on Monday.
It seems that years after the first Bitcoin ETF proposal was filed, the US Securities and Exchange Commission (SEC) has determined to greenlight a futures-backed exchange-traded fund for the primary time.
ProShares, the corporate which filed for its Bitcoin Strategy ETF, could be the very first one to see it launch next week.
It filed an amended prospectus which signifies that it could go live as soon as Monday.
It’s value noting that this isn’t an ordinary ETF however a futures-backed one where the product is tied to Bitcoin futures contracts and not to Bitcoin itself.
Nonetheless, this can be a major milestone for the cryptocurrency industry and one that might have appreciable implications in the future.
Exchange-traded funds present a better option to obtain publicity to the underlying asset in a regulated and secure manner.
They’re a standard funding vehicle – one which buyers are already completely conversant in and symbolize a really convenient onboarding device in the case of receiving Bitcoin exposure.