JUST IN: The first bitcoin futures ETF begins trading on the NYSE. SEC Chair Gary Gensler joins BobPisani to discuss.
It's meant to allow market participants to have access the bitcoin market and hedge and direct exposure to bitcoin pricing.
"The fund seeks to provide capital appreciation primarily through managed exposure to bitcoin futures contracts. The fund does not invest directly in bitcoin," states ProShares website on the fund. The fund has an expense ratio of 0.95%. The crypto industry has been longing for a bitcoin-related ETF for many years. In about 2017, asset managers began applying to launch spot bitcoin ETFs but their proposals were rejected by the Securities and Exchange Commission, which maintained none were able to prove market resistance to manipulation. The rush of applications for futures-based ETFs came this year shortly after Chairman Gary Gensler took the helm at the agency.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Bitcoin hovers near 6-month high on ETF hopes, inflation worriesBitcoin hovered near a six-month high early on Monday on hopes that U.S. regulators would soon allow cryptocurrency exchange-traded funds (ETF) to trade, while global inflation worries also provided some support.
Baca lebih lajut »
Investment advisers 'extremely skeptical' about first U.S. bitcoin ETF: 'It's a hard thing for RIAs to recommend an inferior' crypto productEvery week we highlight the most timely news in the crypto and blockchain industry, from developments in digital-asset companies, exchanges, funds and...
Baca lebih lajut »
The 2 reasons bitcoin could surge by 170% to $168,000 by year-end as crypto-linked ETFs roll outBitcoin could surge in the final few months of 2021, as the first U.S. exchange-traded fund pegged to the crypto appears set to begin trading on Tuesday.
Baca lebih lajut »
Bitcoin hovers near 6-month high on ETF hopes, inflation worriesBitcoin hovered near a six-month high early on Monday on hopes that U.S. regulators would soon allow cryptocurrency exchange-traded funds (ETF) to trade, while global inflation worries also provided some support.
Baca lebih lajut »
Investment advisers 'extremely skeptical' about first U.S. bitcoin ETF: 'It's a hard thing for RIAs to recommend an inferior' crypto productEvery week we highlight the most timely news in the crypto and blockchain industry, from developments in digital-asset companies, exchanges, funds and...
Baca lebih lajut »
Dow futures gain slightly ahead of a big week of earningsU.S. stock index futures were higher in overnight trading on Sunday.
Baca lebih lajut »