ETF Bitcoin is a hot topic in space cryptocurrency. It's been an uphill battle for the Securities and Exchange Commission (SEC).SEC) agreed to approve. The increased push for approval has been going on for several months as more and more organizations and companies enter the market. cryptocurrency.
The United States Securities and Exchange Commission (SEC) has accepted a request for securities registration from Bitcoin Strategy ETF of ProShares, whose shares will be listed on Arca on the New York Stock Exchange, according to an October 15 announcement.
Portfolio Swap Fund Bitcoin of ProShares Trust provides crypto-asset exposure to futures contracts. In addition, ProShares filed a revised prospectus after it went into effect, stating that their ETF could launch as early as October 18.
The source: SEC
Bitcoin Strategy ETF ready to list with BITO . token
The assets will be listed on the NYSE Arca, if the SEC formally approves the application. Bloomberg analyst James Seyffart reported that Bitcoin ProShares Strategy ETF will be listed with the symbol BITO with 95 basis points.
Price of BITO would be less than half of the 2% fee charged by Grayscale Investment's Bitcoin Trust (GBTC), which the company is trying to convert into an ETF. Grayscale CEOs have urged the SEC to allow it to convert at the same time that they approve ETFs that invest in Bitcoin futures, to maintain a “level playing field.” But now, the Bitcoin futures-based ETF appears to be just days away from launching.
Industry watchers have predicted that ProShares could win the approval race as it was the first proposal filed under the Investment Companies Act of 1940 – just before Invesco and Valkyrie. SEC Chairman Gary Gensler said in a virtual forum in August that Proposition 40 provides “substantial investor protection.”
Now it seems unlikely that the SEC will approve all of the proposed Bitcoin futures-based ETFs at once.
Potential ProShares listing comes after company withdraws application ETF Ether in August. At the time, ProShares said it had not sold any securities related to the potential offering.
This positive signal helped push Bitcoin price above the $61,000 mark last night, the price is currently rallying over 6% and trading at $61,240 at press time.