... co-founder Tom Lee wrote. We think
demand will exceed the QQQ inflows. In Yahoo Finance Live this week Sean Farrell will appear for an interview with Fundstrat's Head of Digital Asset Strategy at 11 a.m. EST!
Market research Board Chair
has repeated signaled his openness to an ETF using bitcoin futures as opposed to a contract on spot
Fundstrat's thesis is particularly bullish on investor enthusiasm for a fund settled in bitcoin futures.
Investors have the option of ...
ETF in 2013.
An ETF has been out of the grasp for U.S. issuers for almost a decade, with regulators citing concerns on everything from price manipulation to validating ownership of the coins held by funds The mood shifted in August when SEC head
reiterated he would favor funds with CME-traded
futurities filed under a 1940 s law.
That openness spurred a flood of futures-backed filings. Futures could see four bitcoin - ETFs each trading on U.S. exchanges this month, with deadlines ...
... speculated. The new ETF would end a yearlong push for approval of a
ETF that started back in 2013 and has seen scores of applications rejected by the SEC.
The anticipation had been building for a
Futures ETF after SEC Chairman
last year said he supported such a structure, which he says offers more investor protections than an ETF that is tied directly to physical bitcoin.
BTCUSD has seen its price surge in anticipation of the ETF, with the value of the world ...
... likes of WisdomTree and VanEck.
ETF applications that the regulator has previously rejected, the proposals by
Ltd. are based on futures contracts and were filed under mutual fund rules said SEC Chairman
provide significant investor protections the organization reported.
like ETF has gained approval recently. The that provides investors access to companies with significant exposure to the world's largest cryptocurrencies, rather ...
All ETFs will be based on bitcoin futures contracts, rather than the spot price, with the SEC known to be concerned about a potential lack of liquidity and the risk of price manipulation on spot exchanges.
As recently as last week,
, SEC chair, described crypto finance as the Wild West or the old world of buyer beware that existed before securities laws were enacted adding that it is rife with fraud, scams and abuse However, Gensler has hinted that he is comfortable trading ...
... he said. This is the year to start it because we can actually make qualifying investments where we can do things like this. He also noted that the company was considering an SEC buy-side
futures ETF long before it received support from
Even though this is our fifth ETF, we initially done futures angle for the ETF in January, he said. So we spent like nearly $100,000 just talking to lawyers, like if there is no law filing requirement, just talking with lawyers about a potential ...
... launched in
We have seen more institutional build up, especially in the past few weeks, than we have at any time since the volatility of
prices back in April, said Noelle Acheson, head of market insights at Genesis Global Trading.
has previously said that the crypto market involves many tokens which are not registered securities and leaves prices vulnerable to manipulation and millions of investors open to risks.
... managers, including the VanEck bitcoin trust,
, Valkyrie and Galaxy Digital Funds have applied to launch bitcoin ETFs in the
and Europe, cryptocurrency ETFs were launched this year. The SEC chair
has previously said the Crypto market involves many tokens that could be unregistered securities and leaves prices vulnerable to manipulation and millions of investors open to risks.
The Bloomberg report said that the proposals by