{"id":51492,"date":"2021-10-20T13:49:35","date_gmt":"2021-10-20T10:49:35","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=51492"},"modified":"2025-09-02T23:59:42","modified_gmt":"2025-09-02T20:59:42","slug":"gensler-comments-on-the-launch-of-the-bitcoin-futures-etf","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/gensler-comments-on-the-launch-of-the-bitcoin-futures-etf\/","title":{"rendered":"Gensler comments on the launch of the Bitcoin futures ETF"},"content":{"rendered":"<p>At the core of ProShares&#8217; <span data-descr=\\\"exchange-traded fund\\\" class=\\\"old_tooltip\\\">Bitcoin futures ETF<\/span> lies a &#8220;highly speculative asset class&#8221; with all the hallmarks of volatility. SEC Chair Gary Gensler said this on CNBC during a discussion of the start of trading.<\/p>\n<figure class=\\\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\\\">\n<div class=\\\"wp-block-embed__wrapper\\\">\n<blockquote class=\\\"twitter-tweet\\\" data-width=\\\"500\\\" data-dnt=\\\"true\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">JUST IN: The first bitcoin futures ETF begins trading on the <a href=\\\"https:\/\/twitter.com\/NYSE?ref_src=twsrc%5Etfw\\\">@NYSE<\/a>. SEC Chair Gary Gensler joins <a href=\\\"https:\/\/twitter.com\/BobPisani?ref_src=twsrc%5Etfw\\\">@BobPisani<\/a> to discuss. <a href=\\\"https:\/\/t.co\/oj3Vw5iPoP\\\">https:\/\/t.co\/oj3Vw5iPoP<\/a> <a href=\\\"https:\/\/t.co\/6RHJAUgdfs\\\">pic.twitter.com\/6RHJAUgdfs<\/a><\/p>\n<p>\u2014 CNBC (@CNBC) <a href=\\\"https:\/\/twitter.com\/CNBC\/status\/1450458243239747592?ref_src=twsrc%5Etfw\\\">October 19, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\n<\/div>\n<\/figure>\n<p>He confirmed the regulator&#8217;s position regarding possible approval of spot ETFs based on the first cryptocurrency. Applications to launch such ETFs have been filed with the regulator since around 2017, but none of the potential issuers convinced the Commission of the spot Bitcoin market&#8217;s resilience to manipulation.<\/p>\n<p>In August, Gensler <a href=\"https:\/\/u1f987.com\/en\/news\/gensler-warns-of-tighter-regulation-for-defi-and-stablecoins\">stated<\/a> that the SEC is prepared to consider ETFs based on regulated Bitcoin futures.<\/p>\n<p>Following this, a wave of applications to launch similar products followed from <a href=\"https:\/\/u1f987.com\/en\/news\/valkyrie-investments-files-for-bitcoin-futures-based-etf\">Valkyrie Investments<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/vaneck-files-for-bitcoin-strategy-etf\">VanEck<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/invesco-files-to-launch-bitcoin-etf-expert-surprised-by-the-circumstances\">Invesco<\/a>, <a href=\\\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1174610\/000168386321004445\/f9424d1.htm\\\">ProShares<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/galaxy-digital-applies-to-launch-a-bitcoin-futures-etf-under-the-1940-act\">Galaxy Digital<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/advisorshares-applies-to-launch-a-bitcoin-futures-etf\">AdvisorShares<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/blockfi-files-for-bitcoin-futures-etf-launch\">BlockFi<\/a>.<\/p>\n<p>On October 15, the SEC quietly <a href=\"https:\/\/u1f987.com\/en\/news\/sec-quietly-approves-first-futures-based-bitcoin-etf\">approved ProShares&#8217; ETF prospectus<\/a>. The fund&#8217;s shares <a href=\"https:\/\/u1f987.com\/en\/news\/trading-starts-for-proshares-first-us-bitcoin-futures-etf\">began trading<\/a> on the New York Stock Exchange on October 19.<\/p>\n<p>Commenting on the product launch, Gensler noted that the regulator aims to evaluate new projects from an investor-protection perspective, and Bitcoin futures have been under the oversight of the SEC&#8217;s subsidiary agency \u2014 the Commodity Futures Trading Commission \u2014 for several years.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;You have a product that has been regulated by the federal regulator for the past four years, and it is also within the SEC&#8217;s jurisdiction under the Investment Company Act of 1940. This gives us a degree of ability to protect investors,&#8221; he explained.<\/p>\n<\/blockquote>\n<p>On the record, ProShares&#8217; bitcoin ETF (BITO) traded nearly $1 billion on its debut day. By this measure the instrument ranked second among all exchange-traded funds.<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/vk.com\/forklogcom\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">VK<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>At the core of ProShares&#8217; Bitcoin futures ETF lies a highly speculative asset class with all the hallmarks of volatility, said SEC Chair Gary Gensler on CNBC during a discussion of the start of trading.<\/p>\n","protected":false},"author":1,"featured_media":51493,"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":[1181,1211,26],"class_list":["post-51492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-gary-gensler","tag-stock-market","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51492","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=51492"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51492\/revisions"}],"predecessor-version":[{"id":51494,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51492\/revisions\/51494"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/51493"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=51492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=51492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=51492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}