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ProShares To Begin Trading, More BTC Futures Will Soon Launch By CoinQuora

by Mike Robinson

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© Reuters. ProShares to Start Trading BTC Futures Soon
  • The SEC Chair spoke out about the state of ETFs that trade in Bitcoin futures.
  • Five more BTC futures ETFs could be launched in the coming weeks.
  • According to reports, ProShares trading will start on Tuesday October 19.

ProShares Strategy ETF reports that trading will start on October 19th. It is expected that it will become the first exchange traded fund to receive support from Bitcoin futures.

More institutional investors started flocking to Bitcoin (BTC), after seeing its price soar to the moon. Some investors even quit Bitcoin (BTC) when the price was falling. It was a bull run that ended, and more investors started to invest in the asset.

With this, investors have also hoped for a “pure” Bitcoin ETF this year. Not the one that’s based on BTC Futures. However, it looks like Bitcoin futures will soon launch and become ProShares’ competitors.

These might be the Invesco Crypto Strategy ETF (Weekend, October 20). The VanEck Bitcoin Strategy eTF will be available on Tuesday, October 25, and the Valkyrie Bitcoin Strategy eTF is scheduled for Wednesday, November 20. Following closely are the AdvisorShares Managed Bitcoin Fund ETF (which could be made available as soon as November 1) and the Galaxy Bitcoin Strategy Strategy ETF.

Gary Gensler, SEC Chair, commented.

I anticipate that there will be filings with regard to exchange-traded funds (ETFs) under the Investment Company Act (’40 Act). When combined with the other federal securities laws, the ’40 Act provides significant investor protections. Given these important protections, I look forward to the staff’s review of such filings, particularly if those are limited to these CME-traded Bitcoin futures.

After this statement, firms didn’t take long in filing Bitcoin ETF applications, thus, the 6 ETFs that the U.S. could see in the next few weeks.

It is unclear at this point how the ETF will perform. Investors are optimistic that a Bitcoin futures ETF will send BTC higher.

Continue reading on CoinQuora

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