{"id":51367,"date":"2021-10-18T16:12:58","date_gmt":"2021-10-18T13:12:58","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=51367"},"modified":"2025-09-02T23:21:12","modified_gmt":"2025-09-02T20:21:12","slug":"media-set-the-date-for-the-start-of-trading-of-the-first-u-s-futures-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/media-set-the-date-for-the-start-of-trading-of-the-first-u-s-futures-bitcoin-etf\/","title":{"rendered":"Media set the date for the start of trading of the first U.S. futures Bitcoin ETF"},"content":{"rendered":"

On Tuesday, October 19, the New York Stock Exchange (NYSE) will begin trading a ETF<\/span> based on bitcoin futures from ProShares, according to The New York Times<\/a>.<\/p>\n

The ETF will give investors direct access to cryptocurrency through a regular brokerage account, without the need to custody digital assets.<\/p>\n

\n

“The year 2021 will be remembered for this milestone,” said ProShares CEO Michael Sapir.<\/p>\n<\/blockquote>\n

In his words, investors are interested in cryptocurrency but are reluctant to use unregulated digital-asset exchanges. They seek “easy access to bitcoin in a form that preserves market integrity,” he said.<\/p>\n

The head of ProShares noted that the fund, based on futures on the Chicago Mercantile Exchange (CME), effectively operates as a bitcoin ETF, although it is not tied to the spot price. The spot price for cryptocurrencies is difficult to determine, as the price gap between venues can reach up to 5%, Sapir said.<\/p>\n

Many experts say CME futures best reflect sentiment in the bitcoin market.<\/p>\n

\n

“This is an exciting step, but not the last,” said NYSE’s head of exchange-traded products Douglas Yones.<\/p>\n<\/blockquote>\n

In his view, a number of crypto-related products are expected to gain approval soon.<\/p>\n

On October 15, SEC<\/span> quietly approved<\/a> the ProShares product launch. The regulator did not respond to the company’s filing within the 75-day period. Technically, this meant the Commission did not object to listing the fund.<\/p>\n

That same day Bloomberg added the ProShares Bitcoin Strategy ETF (ticker BITO) to its terminal<\/a>.<\/p>\n

Earlier, senior ETF analyst Eric Balchunas saw a “good sign”<\/a> for registering bitcoin-futures-based funds in an updated product prospectus from Valkyrie Investments and a new ARK Invest filing. Both firms added tickers to the form, which typically signals the final stage of regulator approval, he noted.<\/p>\n

Back in August Balchunas suggested that the SEC would approve the first such filing by the end of October.<\/p>\n

Analysts at Arcane Research noted that in the remaining days of the month the Commission should also issue responses to the prospectuses for bitcoin-futures ETFs from Invesco<\/a>, VanEck<\/a>, Valkyrie Investments<\/a> and Galaxy Digital<\/a>.<\/p>\n

Earlier in August, SEC chairman Gary Gensler said<\/a> the regulator would consider a Bitcoin ETF if they were based on CME futures.<\/p>\n","protected":false},"excerpt":{"rendered":"

On Tuesday, October 19, the New York Stock Exchange (NYSE) will begin trading a bitcoin futures ETF from ProShares, according to The New York Times.<\/p>\n","protected":false},"author":1,"featured_media":51368,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[825,1211,26],"class_list":["post-51367","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-proshares","tag-stock-market","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"32","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/51367","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=51367"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/51367\/revisions"}],"predecessor-version":[{"id":51369,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/51367\/revisions\/51369"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/51368"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=51367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=51367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=51367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}