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According to the Financial Times, which cites documents, ProShares company has submitted an application to the US Securities and Exchange Commission (SEC) to introduce five bitcoin-ETFs. These comprise inverse ETFs, in which the value of assets fluctuates inversely proportionate to the price of the asset, and funds with leverage, i.e. a loan from a broker for transactions.
Following the SEC's approval of the creation of 11 spot funds, US asset managers are competing to introduce a leveraged bitcoin ETF and increase the number of options based on bitcoin and other cryptocurrencies, according to the FT. BlackRock might add more ETFs to its lineup as well: CEO Larry Fink stated on CNBC that he thinks Ethereum spot ETFs are worth it.
The FT notes that BlackRock's attempt to expand its array of funds to include exchange-traded funds (ETFs) backed by cryptocurrencies other than bitcoin suggests a run-in with cautious authorities. The SEC will oppose them, but they will ultimately be allowed, according to Chris Brodersen, managing director of auditing firm EisnerAmper.
The SEC approved bitcoin ETFs on January 10.
source: ft.com
Following the SEC's approval of the creation of 11 spot funds, US asset managers are competing to introduce a leveraged bitcoin ETF and increase the number of options based on bitcoin and other cryptocurrencies, according to the FT. BlackRock might add more ETFs to its lineup as well: CEO Larry Fink stated on CNBC that he thinks Ethereum spot ETFs are worth it.
The FT notes that BlackRock's attempt to expand its array of funds to include exchange-traded funds (ETFs) backed by cryptocurrencies other than bitcoin suggests a run-in with cautious authorities. The SEC will oppose them, but they will ultimately be allowed, according to Chris Brodersen, managing director of auditing firm EisnerAmper.
The SEC approved bitcoin ETFs on January 10.
source: ft.com
