The Securities and Exchange Commission is widely expected to approve a Bitcoin ETF in October
Cryptocurrency lender BlockFi has applied to the US Securities and Exchange Commission to launch a Bitcoin-based futures trading fund in the US.
If approved, its shares will be traded on the Cboe BZX Exchange.
The fund will not invest directly in Bitcoin:
The Fund seeks to invest in Bitcoin futures contracts so that the total value of Bitcoin to which the Fund is economically exposed is equal to approximately 100% of the Fund’s net assets.
A large number of analysts are expecting the Securities and Exchange Commission (SEC) to finally approve a futures-based Bitcoin ETF in October.
As reported by U.Today, the agency may simultaneously give the green light for four applications by the end of the month.
In July, BlockFi came into the crosshairs of regulatory domains, with several countries accusing it of offering unregistered securities.