The first bitcoin futures ETF in the U.S. is set to begin trading in the week ahead
The bitcoin futures ETF from ProShares will begin trading in the week ahead, an amended filing from the company indicated late Friday, marking a milestone moment in the development of the crypto industry in the United States.
The Securities and Exchange Commission had not formally approved the creation of bitcoin futures ETF as of Friday afternoon and the agency may never make a formal declaration of approval for it. But the ProShares’ announcement indicates that the agency is unlikely to block the listing at this point.
NYSE Arca late Friday afternoon certified “its approval for listing,” meaning that the exchange will allow investors to trade the funds as allowed under federal law without SEC intervention. A person familiar with the SEC’s decision-making clarified that the ETF will be allowed to begin trading next week, barring any last-minute complaint from the regulator.
The ProShares Bitcoin Strategy ETF, which will give exposure to bitcoin futures contracts but not the spot market, will trade under the ticker “BITO.”
Reference: CNBC
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