ProShares To Begin Trading, More BTC Futures Will Soon Launch

According to reports, ProShares Bitcoin Strategy ETF will begin trading on October 19. That said, it will be the first exchange-traded fund that Bitcoin futures will back and support.

Seeing how the Bitcoin (BTC) price shot to the moon, more institutional investors flocked to the market. Some actually left BTC when it was bearish. However, as the bull run ceases to stop, more investors came to back the asset again.

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

Namely, these could be Invesco Bitcoin Strategy ETF on Wednesday, October 20. On the next week, the VanEck Bitcoin Strategy ETF on October 25 and the Valkyrie Bitcoin Strategy ETF. Followed by the Galaxy Bitcoin Strategy ETF and AdvisorShares Managed Bitcoin ETF that could be available in early November.

SEC Chair, Gary Gensler 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.

For now, the public is yet to see how it will go. As for investors, they strongly believe a Bitcoin futuresETF could send BTC even higher.

Source: https://coinquora.com/proshares-to-begin-trading-more-btc-futures-will-soon-launch/