SEC May Approve US First Cryptocurrency Exchange-Traded Fund Based on Bitcoin Futures
The US Securities and Exchange Commission (SEC) may approve the first exchange-traded fund (ETF) based on bitcoin futures next week, Bloomberg reports , citing its own sources. According to the agency, ProShares and Invesco Ltd have submitted applications to the regulator for the creation of exchange-traded funds based on bitcoin futures.
In August, SEC chief Gary Gensler argued that the commission would consider applications for the creation of bitcoin ETFs if these funds were based on bitcoin futures of the Chicago Mercantile Exchange (CME), as well as comply with the Investment Company Act of 1940.
In early October, the SEC approved an exchange-traded fund called the Volt Bitcoin Revolution ETF. The fund, run by San Francisco-based Volt Equity, will provide retail investors with access to stocks in companies that hold a significant portion of the cryptocurrency on their balance sheets.
After the publication of material on the possible approval of the first bitcoin-ETF in the United States, the rate of the first cryptocurrency for the first time since mid-April exceeded $ 60 thousand. Over the past day, the main cryptocurrency has risen in price by 3%. At 10:30 Moscow time, bitcoin is trading at $ 59.5 thousand.