ProShares Bitcoin Futures ETF trade is to start trading

ProShares Bitcoin Futures ETF receives green signal from the SEC
  • ProShares Bitcoin Futures ETF trade is ready to commence from Tuesday on the platform of New York Stock Exchange
  • The news was revealed from a Monday filing with the US SEC, that the regulator has given a green signal
  • Excited investors and experts in the cryptosphere deemed that the latest measure would open floodgates to a stream of similar products

ProShares has plans to launch its Bitcoin Futures exchange traded funds (ETFs). The firm had filed for such a financial product this past summer. According to a recent announcement, it is revealed that the trading of the financial instrument will begin on the New York Stock Exchange (NYSE) from Tuesday. Notably, the news was confirmed in a filing on Monday with the United States Securities and Exchange Commission (SEC). Indeed, the US SEC has approved the trading of such Bitcoin Futures products on Friday, as per the filings.

Funds linked with Futures market wins regulatory approval

ProShares Bitcoin Futures exchange traded product will begin trading from Tuesday. It is worth noting that the product is linked to Bitcoin Futures that is being traded on the Chicago Mercantile Exchange (CME). There are several ETFs proposing mulling with the US SEC. According to Gary Gensler, the SEC chair, the funds that are linked to the Futures market will have more chances to win regulatory approval rather than an underlying asset. 

Bitcoin Futures ETFs are an exciting step

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Douglas Yones, the head of exchange-traded products at the New York Stock Exchange believes that ProShares Bitcoin Futures ETF is an exciting step. However, he also deemed that the latest step is not the last step. Simultaneously, the latest news of the long-awaited approval for such a financial instrument has sent the price of the leading cryptocurrency to levels not seen since April. We have observed that now Bitcoin just requires about 3500+ points to achieve a new all-time high record.

BTC Futures ETF on NYSE will open Floodgates

After the long awaited news breakout in the cryptosphere, experts and investors are found very excited. According to experts in the cryptosphere, there is hope that the debut of such a financial instrument on the platform of NYSE will open the floodgates to a stream of similar crypto-based financial products. Indeed, such products will now win regulatory approval. Ultimately, the scenario will accelerate the flow of investments into the hot cryptocurrency market.

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