New York Stock Exchange Aims to List Two Bitcoin ETFs Soon - The Merkle

Bitcoin ETFs are considered to be the holy grail ter terms of attracting institutional investors. For now, it seems very unlikely such an ETF will launch anytime soon, but wij have Bitcoin futures to keep us busy ter the meantime. If it were left up to the Fresh York Stock Exchange, however, a few Bitcoin ETFs would be introduced te the near future. A formal filing with the SEC has bot made to list two ProShares Bitcoin exchange-traded funds.

Can Bitcoin ETFs Eventually Come Through?

Earlier this year, a lotsbestemming of people had high hopes that the SEC would eventually approve Bitcoin ETFs. Unluckily, that didn’t toebijten. The lack of active regulation and the mounting Bitcoin price volatility have not made things lighter te this regard. Solving the regulatory challenge is lighter said than done, yet it seems it will toebijten well before Bitcoin becomes a nonvolatile asset.

At the same time, it is this volatility which makes Bitcoin so attractive to speculators and investors. It is an integral part of Bitcoin’s charm thesis days, yet it hinders one’s chances of successfully launching an ETF . Then again, the Fresh York Stock Exchange has filed with the SEC to trade not just one, but two different Bitcoin ETFs ter the near future. It’s a remarkable request, albeit the effort may eventually pay off this time.

More specifically, the exchange has filed with the SEC to list two funds. One fund is the ProShares Bitcoin ETF, whereas the other one is the ProShares Brief Bitcoin ETF. Spil the names suggest, both options permit investors to speculate on the Bitcoin price. More specifically, they are linked to Bitcoin futures contracts, which have become somewhat popular with mainstream investors overheen the past few days.

While most people may not know ProShares , the company manages overheen US$29 billion ter assets. It also filed the necessary Bitcoin ETF documentation with the SEC te September of this year. It seems thesis funds are designed to track both of the Bitcoin futures provided by CBOE and CMO, spil they are the only two companies that officially opoffering such products to the masses right now. Moreover, the funds will invest assets te benchmark futures contracts with the option of investing ter extra contracts spil well.

Spil is always the case with developments like thesis, there has to be a custodian of the funds ter question. It seems this role will be played by Brown Brothers Harriman. It will oversee investment assets and contant equivalents. Furthermore, this institution will also take care of regulatory filings. It is a very interesting treatment to Bitcoin ETFs, even tho’ it remains to be seen how things play out. Wij can only hope the NYSE receives the green light from the SEC te the next few weeks.

It is overduidelijk Bitcoin has received a healthy boost across 2018. That’s not just thanks to the price increase, but also to the official launch of Bitcoin futures two weeks ago. More and more people want exposure to Bitcoin’s price volatility overheen the coming weeks and months, but it remains to be seen how this venture plays out. If the SEC grants approval to the NYSE, things will get a lotsbestemming more interesting for the world’s leading cryptocurrency.

About The Author


JP Buntinx is a FinTech and Bitcoin enthusiast living ter Belgium. His passion for finance and technology made him one of the world’s leading freelance Bitcoin writers, and he aims to achieve the same level of respect ter the FinTech sector.

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