{"id":51301,"date":"2021-10-16T00:39:06","date_gmt":"2021-10-15T21:39:06","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=51301"},"modified":"2025-09-02T22:55:55","modified_gmt":"2025-09-02T19:55:55","slug":"sec-quietly-approves-first-futures-based-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/sec-quietly-approves-first-futures-based-bitcoin-etf\/","title":{"rendered":"SEC quietly approves first futures-based Bitcoin ETF"},"content":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) approved ProShares&#8217; application to launch the futures-based Bitcoin Strategy ETF. This follows from the <a href=\\\"https:\/\/www.sec.gov\/ix?doc=\/Archives\/edgar\/data\/1174610\/000168386321006052\/f10028d1.htm\\\">updated prospectus<\/a> filed by the company.\u00a0<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">The deed is done. Home free\u2026 <a href=\\\"https:\/\/twitter.com\/search?q=%24BITO&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$BITO<\/a> <a href=\\\"https:\/\/t.co\/Qf3U9quSfy\\\">pic.twitter.com\/Qf3U9quSfy<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\\\"https:\/\/twitter.com\/EricBalchunas\/status\/1449110440248844291?ref_src=twsrc%5Etfw\\\">October 15, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Trading is scheduled to begin on Monday, October 18.<\/p>\n<p>The fund\u2019s underlying asset will be Bitcoin futures on the Chicago Mercantile Exchange (CME). In the updated prospectus, mention of investments in Canadian Bitcoin ETFs has been removed. <\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Importantly. The new prospectus looks to have taken out the language for investing in Canadian ETFs. First is the new prospectus. Second is the old prospectus. <a href=\\\"https:\/\/t.co\/St7kvs3UyQ\\\">pic.twitter.com\/St7kvs3UyQ<\/a><\/p>\n<p>\u2014 James Seyffart (@JSeyff) <a href=\\\"https:\/\/twitter.com\/JSeyff\/status\/1449110078905323531?ref_src=twsrc%5Etfw\\\">October 15, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>According to CoinDesk, the five-commissioner SEC meeting on ProShares&#8217; fund took place on Friday, October 15. However, the conclusion that it was approved rests on the updated prospectus and the 75-day review window. Because the agency did not reject the application in time, it is deemed approved, though the Commission publicly did not confirm it.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Technically, the SEC doesn\u2019t approve or give a green light<\/p>\n<p>\u2014 Frank Chaparro (@fintechfrank) <a href=\\\"https:\/\/twitter.com\/fintechfrank\/status\/1449123469837447181?ref_src=twsrc%5Etfw\\\">October 15, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>As Bloomberg <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-reports-imminent-approval-of-bitcoin-futures-etf-as-price-tops-61000\">reported<\/a>, the SEC would not block the launch of the futures-based Bitcoin ETF. The company\u2019s terminal also shows a corresponding page for the ProShares fund under the ticker BITO.<\/p>\n<p>Nasdaq also <a href=\\\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1877493\/000135445721001164\/8A_Cert_BTF.pdf\\\">expressed readiness<\/a> to add to listing a similar fund, Valkyrie Bitcoin Strategy ETF, which had previously filed Form 8-A to register securities. ProShares filed the same form.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">If anyone needs more evidence that this is happening on Tuesday. Proshares\u2019 8A just hit which registers the ETF\u2019s shares with the SEC for trading on an exchange. <a href=\\\"https:\/\/t.co\/Idp6cm4qet\\\">pic.twitter.com\/Idp6cm4qet<\/a><\/p>\n<p>\u2014 James Seyffart (@JSeyff) <a href=\\\"https:\/\/twitter.com\/JSeyff\/status\/1449115587771260935?ref_src=twsrc%5Etfw\\\">October 15, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Subscribe to ForkLog\u2019s Telegram updates: <a href=\\\"https:\/\/t.me\/forklogfeed\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog Feed<\/a> \u2014 the full newswire, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog<\/a> \u2014 the key headlines, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) approved ProShares&#8217; application to launch the futures-based Bitcoin Strategy ETF. This follows from the updated prospectus filed by the company.<\/p>\n","protected":false},"author":1,"featured_media":51302,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,128,1211,26],"class_list":["post-51301","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-sec","tag-stock-market","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"40","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51301","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=51301"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51301\/revisions"}],"predecessor-version":[{"id":51303,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51301\/revisions\/51303"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/51302"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=51301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=51301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=51301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}