First US Bitcoin ETF Receives SEC Approval

ProShares has published an updated prospectus for the Bitcoin Strategy ETF, which states that the exchange-traded fundbased on bitcoin futures will start trading on October 18th.

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Bitcoin Strategy ETF from ProShares has becomethe first U.S. exchange-traded fund based on bitcoin futures. The fund has received approval from the US Securities and Exchange Commission (SEC), as indicated by an updated prospectus filed by the company. The regulator had 75 days to reject the company's application or extend its consideration. According to the updated prospectus, the Bitcoin Strategy ETF is slated to start trading on October 18th.

October 15 Bloomberg citing its ownSources said the US Securities and Exchange Commission may approve the country's first exchange-traded fund based on Bitcoin futures next week. The corresponding page for the fund from ProShares later appeared in the agency's terminal under the ticker BITO.

In early October, the SEC approved an exchange-traded fund underthe Volt Bitcoin Revolution ETF. The fund, run by San Francisco-based Volt Equity, will provide retail investors with access to stocks in companies that hold a significant portion of the cryptocurrency on their balance sheets.

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