Crypto Weekly
Subscribe
No Result
View All Result
Crypto Weekly
  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Learn
    • Crypto 101
    • Crypto Wallets
    • Crypo Investing
  • Regulation
  • Advertise with us
  • Subscribe
No Result
View All Result
Crypto Weekly Magazine
No Result
View All Result
  • Home
  • News
  • Learn
  • Regulation
  • Advertise with us
  • Subscribe

ProShares files with SEC for Short Bitcoin Strategy ETF

by
April 6, 2022
in bitcoin, News
0
ProShares files with SEC for Short Bitcoin Strategy ETF

The exchange-traded fund will be based on daily investment results corresponding to the inverse of the return of the CME Bitcoin Futures Contracts Index for a day.

Exchange-traded funds issuer ProShares has filed a registration statement with the United States Securities and Exchange Commission to list shares of a Short Bitcoin Strategy ETF.

In a Tuesday filing, ProShares applied with the SEC for an investment vehicle that would allow users to bet against Bitcoin (BTC) futures using an exchange-traded fund. According to the registration statement, the Short Bitcoin Strategy ETF will be based on daily investment results corresponding to the inverse of the return of the Chicago Mercantile Exchange Bitcoin Futures Contracts Index for a day.

ProShares just filed for a Short Bitcoin Futures ETF. Even tho SEC rejected similar filing last year, this has shot IMO given ProShares’ perfect read on SEC w/ $BITO and the lack of issues w/ futures ETFs so far. Ticker should be $FUD or $NGMI. Nice scoop by @kgreifeld. pic.twitter.com/fOieZ0Tp9Y

— Eric Balchunas (@EricBalchunas) April 6, 2022

In October 2021, ProShares became the first firm to ever launch an exchange-traded fund linked to BTC futures in the United States on NYSE Arca under the ticker BITO. At the time of publication, shares are priced at $27.58, having fallen more than 4% in the last 24 hours.

Though the SEC has not approved a spot Bitcoin ETF in the United States, it gave the green light for investment vehicles with exposure to BTC futures starting in 2021 as well as crypto mining firms. The regulatory body rejected a similar offering from ProShares in 2018, but a fund allowing investors to short Bitcoin futures from Horizons ETFs Management currently trades on the Toronto Stock Exchange under the ticker BITI: the BetaPro Inverse Bitcoin ETF.

Related: Valkyrie Investments‘ Leah Wald on Bitcoin ETFs and the future of digital assets

According to the SEC, the ProShares filing is a preliminary prospectus that is subject to completion. The application suggests a public offering 75 days after filing — June 19 — but the SEC has frequently delayed crypto ETF applications or opened them up for public comment, an action which also pushes back the deadline for the regulatory body to approve or disapprove listing shares.

Previous Post

Building businesses in the ‘spirit of Bitcoin’: The Bitcoin Hostel

Next Post

Ethereum price analysis: ETH tests $3,200, ready to break lower?

Next Post
Ethereum price analysis: ETH tests $3,200, ready to break lower?

Ethereum price analysis: ETH tests $3,200, ready to break lower?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Got a Story tip? Email Contact@cryptoweeklymag.com

CMC Coin

A marketing-focused coin w/ a unique set of tokenomics & incredible use cases! The official coin of Crypto Weekly Mag!
Learn More

News

Recent Posts
  • Ethereum price analysis: ETH wobbles near $1,700 as bulls desperate to touch $1,800
  • Bitcoin price analysis: Tug of war between bulls and bears keeps BTC below $24k
  • Elon Musk: US ‘past peak inflation’ after Tesla sells 90% of Bitcoin
  • VC Roundup: Lightning Network payment rail, DeFi trading platform and blockchain security firm raise millions
  • Bitcoin price: weekend volatility ‘expected’ with $22K level to hold
  • Proof-of-work: The Bitcoin artists on minting NFTs and OpenSea
  • Ethereum price rises by 50% against Bitcoin in one month — but there’s a catch

Office

Crypto Weekly
71 – 75 Shelton Street
Covent Garden London, UK

Stay Connected

Facebook Twitter Instagram Telegram

© 2022 crypto weekly. All rights reserved

  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Learn
    • Crypto 101
    • Crypto Wallets
    • Crypo Investing
  • Regulation
  • Advertise with us
  • Subscribe
Translate »