AdvisorShares has filed an application with the Securities and Exchange Commission (SEC) for a Bitcoin futures ETF

0
2533

A Bitcoin ETF is responsible for tracking the price of Bitcoin, but the benefit of having access to a Bitcoin futures ETF is that the security will be available for trade as a regular stock, which makes it appealing to investment management businesses looking for Bitcoin futures ETFs

When approved, these exchange-traded funds, or ETFs, will give many stock investors quick access to cryptocurrencies. Many investment managers have requested permission from the Securities and Exchange Committee, the United States’ monetary regulatory authority. AdvisorShares is a new candidate for Bitcoin futures ETF approval.

Morgan Creek Capital will act as a sub-advisor for a Bitcoin futures exchange-traded fund (ETF)

The SEC has yet to assess the ETF proposal, which included Morgan Creek Capital, a well-known investment firm, as a sub-advisor for the AdvisorShares-managed ETF. For AdvisorShares, the organization will be in charge of giving suitable assistance and expert advice on the operation of the Bitcoin ETF.

Gary Gensler, the chairman of the Securities and Exchange Commission, has previously stated that he supports Bitcoin ETFs that are tied to trading futures contracts, but he has yet to accept the hundreds of applications currently pending with the SEC.

The head of the SEC appears to be favoring Bitcoin futures ETFs over actual ones.

LEAVE A REPLY

Please enter your comment!
Please enter your name here