New Bitcoin ETFs filed: One for bears, the other with ‘leverage for ants’
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....
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Last month, the watchdog gave the thumbs-up to Teucrium's Bitcoin futures ETF, which is the first such vehicle to be approved under the '33 Act. The United States Securities and Exchange Commission has given the green light to Valkyrie's futures exchange-traded fund (EFT) application. This represents another ETF that has been approved by the SEC, which has previously accepted futures ETFs, but no sign of spot ETFs yet.As per the SEC document published Thursday, the application was filed under the Securities Exchange Act of 1934 using a 19b-4 form, the same law that spot Bitcoin (BTC) ETF....
Merely two days ago, fund managers VanEck and ProShares filed with the U.S. Securities and Exchange Commission (SEC) to bring Ethereum exchange-traded funds (ETFs) to the U.S. markets. However, the two firms broke news on Friday that they have both chosen to withdraw their active applications. Similar to the dozens of Bitcoin ETFs awaiting approval, […]
With the approvals of futures bitcoin ETFs, firms have taken it one step further and have applied with the Securities and Exchanges Commission (SEC) for spot-based bitcoin ETFs. However, unlike their futures and short counterparts, the spot ETFs have not found favor in the eyes of the regulatory watchdog. And as more spot-based bitcoin ETF applications are declined by the SEC, questions have arisen about whether the market will see one anytime soon. Grayscale And Bitwise Applications Rejected Over the last month, anticipation had built up regarding spot-based Bitcoin ETF filings by both....
SEC chair Gary Gensler recently hinted he would be more open to accepting ETFs based on crypto futures rather than through direct exposure. Asset manager VanEck is filing for a Bitcoin Strategy exchange-traded fund after it unsuccessfully attempted to launch a similar fund four years ago. According to U.S. Securities and Exchange Commission, or SEC records, VanEck filed a prospectus for a Bitcoin Strategy exchange-traded fund, or ETF, on Aug. 9. Unlike its Bitcoin (BTC) or Ether (ETH) ETFs currently under review by the federal agency, the proposed fund would not invest in BTC directly, but....
Crypto enthusiasts and the government have long contended over the Bitcoin ETF. Let’s examine Bitcoin spot vs futures ETFs. How many Bitcoin ETFs are there?There are various companies offering Bitcoin ETFs, and each is available on their own respective exchanges.While the only Bitcoin ETFs in existence are Bitcoin futures ETFs, there are quite a few out there in which one can choose to invest. This article previously mentioned the ProShares BITO Bitcoin futures ETF, which currently holds around $1 billion in investments. BITO is listed on the Chicago Mercantile Exchange (CME). Another....