2 years ago
The exchange-traded money volition beryllium based connected regular concern results corresponding to the inverse of the instrumentality of the CME Bitcoin Futures Contracts Index for a day.
41 Total views
1 Total shares
Exchange-traded funds issuer ProShares has filed a registration connection with the United States Securities and Exchange Commission to database shares of a Short Bitcoin Strategy ETF.
In a Tuesday filing, ProShares applied with the SEC for an concern conveyance that would let users to stake against Bitcoin (BTC) futures utilizing an exchange-traded fund. According to the registration statement, the Short Bitcoin Strategy ETF volition beryllium based connected regular concern results corresponding to the inverse of the instrumentality of the Chicago Mercantile Exchange Bitcoin Futures Contracts Index for a day.
ProShares conscionable filed for a Short Bitcoin Futures ETF. Even tho SEC rejected akin filing past year, this has changeable IMO fixed ProShares' cleanable work connected SEC w/ $BITO and the deficiency of issues w/ futures ETFs truthful far. Ticker should beryllium $FUD oregon $NGMI. Nice scoop by @kgreifeld. pic.twitter.com/fOieZ0Tp9Y
— Eric Balchunas (@EricBalchunas) April 6, 2022In October 2021, ProShares became the archetypal steadfast to ever launch an exchange-traded fund linked to BTC futures successful the United States connected NYSE Arca nether the ticker BITO. At the clip of publication, shares are priced astatine $27.58, having fallen much than 4% successful the past 24 hours.
Though the SEC has not approved a spot Bitcoin ETF successful the United States, it gave the greenish airy for concern vehicles with vulnerability to BTC futures starting successful 2021 arsenic good arsenic crypto mining firms. The regulatory assemblage rejected a akin offering from ProShares successful 2018, but a money allowing investors to short Bitcoin futures from Horizons ETFs Management presently trades connected the Toronto Stock Exchange nether the ticker BITI: the BetaPro Inverse Bitcoin ETF.
Related: Valkyrie Investments‘ Leah Wald connected Bitcoin ETFs and the aboriginal of integer assets
According to the SEC, the ProShares filing is simply a preliminary prospectus that is taxable to completion. The exertion suggests a nationalist offering 75 days aft filing — June 19 — but the SEC has often delayed crypto ETF applications oregon opened them up for nationalist comment, an enactment which besides pushes backmost the deadline for the regulatory assemblage to o.k. oregon disapprove listing shares.
English (US) 