Bitcoin News

Report: The second bitcoin ETF will be officially approved soon


Bloomberg analyst James Seyffart reports that the Bitcoin Stock Exchange will start trading on Monday. If the report is correct, this is the second Bitcoin ETF‌ to be licensed by the US Securities and Exchange Commission, after the Valkyrie Fund.

to the Report Coin Telegraph, this bitcoin ETF is based on futures contracts of this digital currency and will be traded on the NYSE Arca stock exchange from October 18 (October 26).

The US Securities and Exchange Commission said in a statement on Friday that it had accepted the company’s ETF‌. This Bitcoin exchange traded fund allows investors to invest in digital currencies through futures contracts. In addition, the developers stated in their underwriting announcement that they may start trading ETF bitcoins from Monday.

This fund is traded in Arka and according to Sefart, the transactions of this ETF are done with the symbol BITO and with an interest rate of 0.95%.

Percussion, meanwhile, withdrew its request to launch an Ethereum ETF‌ in the United States in August. The brokers also announced that they have not yet sold any shares of the tradable fund on their Bitcoin exchange.

There were reports last night that the US Securities and Exchange Commission had agreed to Valkyrie’s request to set up a tradable fund on the Bitcoin exchange. The SEC has not yet officially approved the funds.

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