US Intercontinental Exchange Affiliates apply for listed bitcoin futures ETF

nBankruptcy comment: NYSE Arca, a subsidiary of the U.S. Intercontinental Exchange, has filed a filing with the Securities and Futures Commission with two Bitcoin ETFs to benchmark two recent bitcoin futures products listed on the Chicago Board of Trade and the CME Group. The application had to remind us of the recent hot cryptocurrency market. The SFC also had to conduct more research and consideration on the listing of related products and the revision of rules.n
nTranslation: Annie_Xun
NYSE Arca applied to the SEC, Securities and Exchange Commission for a change rule that would make it possible to list two exchange-traded funds that anchor bitcoin futures.n
Public record on December 19 shows that the company applied for listing in September with two ETFs: the ProShares Bitcoin ETF and the ProShares Short ETF. Documents show that NYSE Arca belong to the Intercontinental Exchange (ICE, Intercontinental Exchange), December 4 submitted a proposal to amend the rules.n
The application mentions that the ETF will track two recently launched futures contracts under the Cboe and CME Group, respectively.n
nThe Listing Application forms said the fund’s investment objective is to find results (including fees and expenses) that are consistent with the recent contract performance of Bitcoin exchanges traded on the Cboe or CME, both on the same day and long-term. “n
nThe strength of the financial products associated with the cryptocurrency market recently underscored the importance of this application. Although multiple SEC filings over the past few months have received cryptocurrencies, NYSE Arca’s application shows that at least some of the product launches have entered the formal approval stage of the Commission.n
NYSE Arca had hoped to list ETF for SolidX, a start-up, but the SEC rejected the proposed rule change in March this year.n
The move was followed by an ETF denial by investors Cameron and Tyler Winklevoss. After the rejection, the SEC, which received the Bats BZX exchange request, began revisiting the decision.n

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