NYSE had applied for the opening of two bitcoin-ETF

Intercontinental Exchange plans to include to the listing funds which will track the price of bitcoin through futures contracts
21 December 2017   844

Intercontinental Exchange (ICE) filed an application to the US Securities and Exchange Commission for changing the rules, allowing the launch of two exchange-traded funds (ETF), focused on bitcoin futures. This is reported by CNBC.

As it follows from the application, ICE plans to include to the listing funds ProShares Bitcoin ETF and ProShares Short Bitcoin ETF, which will track the price of bitcoin through futures contracts.

Applications for the launch of ProShares Bitcoin ETF and ProShares Short ETF were filed for the first time in September, but bitcoin futures did not exist yet, and after a while applications were withdrawn. Now, when bitcoin futures appeared on two American exchanges, ProShares expects to receive SEC approval.

By being long Bitcoin Futures Contracts, the Fund seeks to benefit from daily increases in the price of the Bitcoin Futures Contracts. The Fund will not be benchmarked to the current price of bitcoin and will not invest directly in bitcoin. When the price of Bitcoin Futures Contracts held by the Fund declines, the Fund will lose value.
 

SEC Filing

Since the appearance of futures on the Chicago stock exchanges CBOE and CME, the Securities Commission has refrained from commenting officially on bitcoin-ETF. Analysts and market participants, however, are hoping that the SEC will change its attitude to this instrument, given that the Commodity Futures Trading Commission (CFTC) has given permission to launch futures.

SEC to Decide on Bitcoin ETF until Feb 27 2019

Despite this news, Bitcoin price hit another bottom - $3400 this time
07 December 2018   100

The US Securities and Exchange Commission (SEC) issued a notice stating that consideration of a decision on an application to start Bitcoin-ETF from VanEck and SolidX with the assistance of CBOE will last until February 27 of next year.

According to the SEC rules, the period for consideration of this decision cannot be extended yet. Thus, the Commission on maximum uses the allotted time, and February 27 will be the final date for the decision on this application.

The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change.
 

Securities and Exchange Commision

According to representatives of the SEC, to date, the Commision has received more than 1600 comments on this application.

Despite this news, Bitcoin price hit another bottom - $3400 this time.