Direxion Files Bitcoin ETF To Enable Speculators Buy Contracts
The ProShares Bitcoin Strategy ETF started trading on October 19, 2021 and recorded above $900 million shares sold to investors the same day. Many speculators opined that investors waited for this opportunity for a long time and couldn’t control their eagerness. It is right to say that this approval has encouraged other issuers to push […]
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ETF issuers are getting creative with two new filings for inverse and leveraged funds. Exchange-traded fund issuer Direxion has filed for a product that would enable speculators to buy contracts that short the price of Bitcoin.In a filing made to the U.S. Securities and Exchange Commission on Oct. 26, the company unveiled the Direxion Bitcoin Strategy Bear ETF. Like other futures products, it will not invest directly in BTC, but will instead maintain managed short exposure position contracts issued by the Chicago Mercantile Exchange (CME).Direxion stated that the fund may invest in other....
The SEC does not appear to have the appetite for more exotic Bitcoin futures products. Reports are emerging that the U.S. Securities and Exchange Commission has rejected one, or possibly two, recent Bitcoin exchange-traded fund applications signaling that the regulator is not quite ready for more exotic futures products just yet.Just a day or so after Valkyrie filed for a leveraged Bitcoin futures ETF and Direxion applied for an inverse fund for bears, the SEC appears to have vetoed them both.On Oct. 28, Bloomberg’s senior ETF analyst Eric Balchunas referred to a Dow Jones alert indicating....
Analysts still hold a bullish longterm view of Bitcoin price, but they also agree that the newly launched BTC ETFs are a game-changer. After reaching new all-time highs it's customary for Bitcoin (BTC) price see a bit of cooling off in the form of profit taking, consolidation and uncertainty from traders who are cautious about opening new positions at record highs. This appears to be exactly what is occuring this week as Bitcoin price struggles to hold the $60,000 level as support.BTC/USDT 4-hour chart. Source: TradingViewGenerally, most analysts still retain a bullish macro view of....
Hackers are soon going to be the new lawyers as the adoption of smart contracts increase in the near future. The advent of Blockchain 2.0 and Blockchain 3.0 has given rise to new ways of automation using Bitcoin’s underlying technology. There are special cryptocurrency platforms like Ethereum, Rootstock, Counterparty, Lisk and more that allows people to create smart contracts on the blockchain. These smart contracts enable automation by allowing developers to set trigger conditions. These trigger conditions are certain prerequisites, when met, will execute the function programmed on the....
The Singapore banking establishment is keen to implement FinTech and blockchain innovations after the launch of its accelerator program, FinLab, earlier this month. On August 3, the Singaporean banking society, the United Overseas Bank (UOB) held its first accelerator program that focused on technology solutions for the financial sector and smart contracts. Nine startups that took part: Attores, CardUp, FinMitra, FinReg, Nickel, SsinoConnect, Stock2Day, Tuple, and Turnkey Lender. According to Singapore news outlet, The Straits Times, startup Attores is working toward building a blockchain....