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Two more Bitcoin futures ETFs are waiting for SEC approval

A Maryland-based exchange-traded fund (ETF) has applied for the launch of two new bitcoin futures-based products.

28.Sep.17 2:34 PM
By Daria Zaytseva


Two more Bitcoin futures ETFs are waiting for SEC approval

According to a Form S-1 dated September 27, ProShares Capital Management wants to create two bitcoin-related funds: the ProShares Bitcoin ETF and the ProShares Short Bitcoin ETF. Like other proposed ETFs that have appeared in recent months, ProShares isnít planning to buy direct rates in the cryptocurrency; rather, it intends to create an impact through contracts with derivatives.

On request, ProShares is aiming for a maximum aggregate placement price of $ 1 million at a price of $ 25 per share, with a plan to include it in the NYSE Arca exchange.

As admitted in the submission, the market for bitcoin-tied derivatives is still emerging and at an early stage. Nevertheless, that market is starting to take shape, if not slowly.

Startups, such as LedgerX and option exchange operators, such as CBOE, have switched to taking advantage of the interest in such products. On the other hand, large players like CME are kept at a distance, at least for the moment, despite the work on intellectual property related to derivatives of cryptocurrency.

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