Two new currency futures ETF to be approved by the US Securities and Exchange Commission


nnRecently, Maryland’s ProShares Capital Management Company filed an application with the Securities and Exchange Commission (SEC) to create two dollar funds, indirectly through derivatives contracts to provide access to the encrypted currency. The application document also mentions that derivatives markets related to Bitcoin are still in the early stages of development, but it is undeniable that the Bitcoin derivatives market has begun to shape.n
nTranslation: Clovern
The Exchange Exchange Fund (ETF), which is located in Maryland, has filed an application to launch two new premium currency futures products.n
According to the S-1 form filed on September 27, ProShares Capital Management wants to create two Bitcoin funds: ProShares Bitcoin ETF and ProShares short bit currency ETF. Like other ETFs submitted in recent months, ProShares does not intend to purchase the encrypted currency directly, but instead, the company intends to indirectly provide access to the encrypted currency through derivative contracts.n
According to the documents submitted, ProShares target the largest total issue price of $ 1 million, of which $ 25 per share, and plans to be listed on the NYSE Arca Exchange.n
The document mentions that derivatives markets related to Bitcoin are still in the embryonic stage.n
The company said in the application documents:n
n”It is not easy to guarantee whether the spot currency futures contract will develop or maintain a certain degree of activity,” he said.n
nNevertheless, it can not be denied that the Bitcoin derivatives market has begun to shape.n
LedgerX and other start-up companies and CBOE options exchange operators have turned to the public interest in these products. On the other hand, the main players in the market, such as the Chicago Mercantile Exchange (CME), are still on the sidelines, at least for the time being, even though they have already carried out intellectual property related work on encrypted currency derivatives.n

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