As reported by Reuters, the US Securities and Exchange Commission has released applications for a new ETF that will track the bitcoin price.
The ETF will be managed by a fund called ProShares, which already offers funds that track the price of bitcoin futures, as well as other assets like gold and oil. The fund is looking to launch a portfolio swap product called the ProShares Bitcoin Futures Strategy ETF.
Bitcoin futures trading has recently gained popularity as more and more investors seek to bet on digital currency price movements outside of cryptocurrency exchanges. As more and more people accept the idea of trading bitcoin futures, it is likely that more funds will also give them exposure.
Bitcoin has risen rapidly in recent weeks, with prices hitting $11,000 in late December before dropping to around $9,000 today (February 20). The cryptocurrency's market capitalization surpassed $200 billion earlier this week — making it one of the world's largest stocks by total value — but its recent rise has been largely driven by speculative activity rather than actual buying or selling by investors who see bitcoin as an investment opportunity or want to hedge other financial risks like inflation or interest rates.
Thank you, friend!
I'm @steem.history, who is steem witness.
Thank you for witnessvoting for me.
please click it!
(Go to https://steemit.com/~witnesses and type fbslo at the bottom of the page)
The weight is reduced because of the lack of Voting Power. If you vote for me as a witness, you can get my little vote.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit