ProShares, an American ETP issuer, files for three new Bitcoin-linked ETFs, including the S&P 500 Bitcoin ETF, Nasdaq-100 Bitcoin ETF, and Gold Bitcoin ETF.
American ETP issuer ProShares has filed for three new Bitcoin-linked ETF products, with stock market native products as reserves. These filings include the S&P 500 Bitcoin ETF , the Nasdaq-100 Bitcoin ETF , and the Gold Bitcoin ETF . These products would take a long position in the underlying stocks or gold and then a short USD and long Bitcoin position using Bitcoin futures offerings. This dual-faced model has led to the prospective offerings being called 'BTC hedged ETF s'.
This comes amid growing consideration of more leniency in U.S. SEC approvals next year with a new Chairman set to take office. Since spot Bitcoin and Ethereum ETF products secured approval from the U.S. SEC, there has been no slowing down in the number of filings. The timing of the current filing has triggered commentary from market experts on how unrelenting ETF issuers are in driving more reach for the product. Beyond the $5,500 Ethereum, at least one big asset manager will allocate 2% of its Assets Under Management (AuM) to Bitcoin, underscoring the potential for the asset to go mainstream on Wall Street
BITCOIN ETF PROSHARES INVESTMENT WALL STREET
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