NYSE operators are seeking to list two Bitcoin ETFs on the Arca TWS

nBuzz comments: The New York Stock Exchange (NYSE) recently again to the United States Securities and Exchange Commission (SEC) to amend the proposed rules to enable it to NYSE Arca trading platform listed on the two bitcoin ETF. As the Bitcoin Futures contract is listed on CME and CBOE, the two major futures exchanges in the United States, and the initial market order is relatively stable, analysts believe that the SEC is likely to approve the listing of the two Bitcoin ETFs. If the proposed ETF approved, then the cryptocurrency market may be entering the mainstream of the turning point.n
nTranslation: Clovern
The operator of the New York Stock Exchange (NYSE) has submitted a proposed rule change to the Securities and Exchange Commission that allows exchanges to list two Bitcoin ETFs on the NYSE Arca trading platform.n
n
ICE is seeking to list two Bitcoin ETFs on NYSE Arcan
According to a filing with the SEC on December 19, the ICE is planning to list two Exchange Traded Funds, the ProShares Bitcoin ETF and the ProShares Short Bitcoin ETF, which use futures contracts to track bitcoin price movements.n
ProShares initially submitted an application for the creation of both funds in September, but the SEC declined to review the applications because its underlying asset, bitcoin futures, was not yet available. Bitcoin Futures products are now listed on the CME and CBOE exchanges in the United States. Therefore, ProShares submitted the application documents for the two ETFs again on Tuesday and submitted two other blockchain-related funds.n
The SEC has not yet ruled on a Bitcoin ETF to be submitted after the release of Bitcoin futures, but given that CME and CBOE are highly regulated by the Commodity Futures Trading Commission (CFTC) and the market order is relatively stable during the initial stages of the listing of Bitcoin futures contracts, many Analysts expect the agency to approve the two Bitcoin ETFs in the near term.n
n
‘Financial crisis staged again’n
While many analysts expect the SEC to approve a listing application for the first Bitcoin ETF, given that Jeffrey Sprecher, ICE chairman and chief executive, said recently that although there is a good chance it will become the first exchange operator to market such products, Still not going to “rush” to launch bitcoin futures products, so the news about submitting an ETF application really makes people feel a bit surprised.n
Earlier this month, Sprecher said:n
n”While most exchange-traded indices are less transparent, we do not think we are in a rush to launch such a product, and we do not need to be the first to eat crab.”n
nClearly, the ICE does not share the same concerns over Bitcoin ETFs, though those products will primarily face retail investors and critics have also warned that these products could once again lead to a “financial crisis.”n
Assuming that the SEC did finally approve the proposal, this represented a turning point in the adoption of cryptocurrencies, potentially turning Bitcoin into a mainstream financial instrument held by ordinary Americans in their retirement portfolios.n

Leave a Reply

Your email address will not be published. Required fields are marked *