First Bitcoin ETF Approved…Learn When It Starts Trading
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Answer First Bitcoin ETF Approved…Learn When It Starts Trading
Years after submitting a proposed Bitcoin ETF, the US Securities and Exchange Commission (SEC) has decided to green-light a Bitcoin futures ETF for the first time.
ProShares, one of the first companies to apply for approval and authorization from the SEC to trade bitcoin futures ETFs, may be launching this fund next week.
The company “ProShares” introduced bulletin A revised version indicates that its new product could go into effect as soon as possible, possibly as early as next Monday.
It is worth noting that this is not a regular trading ETF but is backed by futures contracts where the product is linked to the bitcoin futures and not the bitcoin itself.Read:5 Cryptocurrency Trading Apps You Should Try Now
However, this is a major milestone for the cryptocurrency industry and may have major implications going forward.
Exchange-traded funds provide an easier way to receive exposure to an underlying asset in a regulated and secure manner.
ETFs are a traditional investment vehicle, which investors already know quite well and are a very convenient tool when it comes to receiving exposure to Bitcoin.
For more details about what Bitcoin ETFs are and how they work, you can do so through Link.Read:Report: Binance controls 30% of cryptocurrency trading volume…Details here
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