Direxion Asset Management filed заявку with the U.S. Securities and Exchange Commission (SEC) for approval ETF, designed to profit from taking short positions on CME bitcoin futures.
Direxion Asset Management withdrawn the application to launch a bitcoin futures ETF.
Direxion Bitcoin Strategy Bear ETF will also be able to invest in other exchange-traded funds based on the first cryptocurrency, money market funds, deposits or short-term debt instruments.
“Opening a short position in bitcoin futures is possible in any market phase — during declines, rallies, and flat markets”, the statement said.
If the SEC does not respond within the next 75 days, the filing will become effective automatically.
In 2018, the regulator rejected Direxion’s plan to launch five bitcoin ETFs. The instruments would have involved leveraged exposure to the cryptocurrency and short bets, with and without leverage.
Arcane Research analysts deemed the odds of launching a spot bitcoin ETF to be not high.
Investments in the U.S.-listed bitcoin ETFs from ProShares and Valkyrie Investments amounted to $1.24 billion in the first week of trading.
Follow ForkLog’s news on Facebook!