The regulator isn’t likely to block the products, which would be based on futures contracts for the second-largest cryptocurrency, according to people familiar with the matter. Nearly a dozen companies, including Volatility Shares, Bitwise, Roundhill and ProShares, have filed to launch the ETFs.
The regulator has refused to allow an ETF based directly on a cryptocurrency, but in late 2021, it started allowing trading in a fund that involves Bitcoin futures contracts that trade on the Chicago Mercantile Exchange. Speculation has been mounting that a product with Ether futures, which also trade on CME, would be next.
Meanwhile, the SEC remains locked in a battle with the industry over its pushback against ETFs based on Bitcoin itself. In one high-stakes case, a panel of US federal appellate court judges is set to make a decision on a lawsuit by Grayscale Investments LLC challenging the SEC’s rejection of an application to convert its Bitcoin trust into an ETF.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: SaltWire Network - 🏆 45. / 63 Read more »