ProShares’ bitcoin futures ETF will start trading within the next week according to an amended filing. This is in line with years of advocacy by crypto advocates for the approval of such an ETF. Crypto advocates have been pushing for years for regulators to approve an ETF related to bitcoin, and the arrival is expected by many to bring in a new class of investors into the digital currencies. Anticipation of the ETF’s listing appeared to boost the price of bitcoin over the past week. Several companies, including Invesco and Valkyrie, have applied to launch similar ETFs that could follow ProShares into the market in the weeks ahead. The approval of a futures ETF for bitcoin will be seen as only a partial victory by some in the crypto community, as the outlook for a similar fund that tracks the spot-market price of bitcoin remains unclear.An ETF, which stands for « exchange-traded fund, » is an asset that trades on the open market like a stock and is open to regular investors. Some companies, such as Grayscale, have products that offer exposure to bitcoin already but they are only available to qualified wealthy investors or in over-the-counter markets, where the shares often trade at a price that does not match the underlying cryptocurrency. […]
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