The US Securities and Exchange Commission (SEC) has approved the launch of an ETF on ProShares Bitcoin futures. The Exchange Traded Fund can be launched on the NYSE Arca platform as early as Monday.
The SEC has registered the ProShares Trust Bitcoin Fund, which offers access to Bitcoin through futures. According to Bloomberg analyst James Seyffart, the ETF could be launched on the NYSE Arca platform under the ticker BITO as early as Monday.
“Here it is! The Bloomberg team adds a Bitcoin ETF from ProShares to the terminal under the ticker BITO. The commission will be 95 basis points, which is less than the commission of the Grayscale Bitcoin Trust by 2%. Trading will begin next week, I think, on Monday or Tuesday “, – stated analyst on Twitter.
Seyffarth also said that Valkirye’s application is “on the verge of approval.” He expects the company’s cryptocurrency ETF to start trading next week. There is a likelihood of launching a similar product from Invesco, but so far the analyst is not 100% sure of this.
“My posts have gotten a lot of attention. I wanted to say that if our team adds a ticker to the terminal, it usually means that the product will be launched. But this does not happen occasionally, although the probability of a launch cancellation is only 1% or 2%, ”Seyffart later wrote.
In addition, ProShares released a promotional brochure announcing the launch of its crypto ETF on October 18.
Earlier it was reported about a change in the attitude of the SEC to applications for the launch of ETFs on Bitcoin futures, but funds with direct investments in the first cryptocurrency are not planned to be approved yet.
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