The SEC will allow ProShares to start trading its BTC futures ETF starting Monday after dozens of applications were denied and delayed over the past four years. So keep reading on the latest bitcoin news today.

The US Securities and Exchange Commission approved the first Bitcoin ETF. ProShares filed a prospectus on Friday, stating that it had received the green light to start trading its Bitcoin strategy ETF on Monday. The company’s ETF is tied to BTC futures contracts rather than directly tied to Bitcoin price, but its approval still marks a turning point for the entire industry. After dozens of applications have been delayed and ignored, ProShares is now the pick for it trading Bitcoin ETF futures as the SEC allows.

The company’s ETF is tied to Bitcoin futures contracts, not the Bitcoin price. An ETF is an investment product that tracks the prices of stocks, commodities or other assets and is traded on a public exchange like stocks. They’re a great option for those about to retire and have a savings plan for those who can avoid the hassle of buying crypto on exchanges like Coinbase.

Before investing in a fund that holds bitcoin futures contracts, you should carefully weigh the potential risks and benefits.

Further information can be found in our investor newsletter: https://t.co/AZbrkpfn8F

– SEC investor Ed (@SEC_Investor_Ed) October 14, 2021

A real Bitcoin ETF will follow the actual price of BTC and must be approved in the US. Hence, ETF hopes companies will swirl around supported futures ETF proposals after sEC President Gary Gensler indicated they will have an easier path to approval. More and more companies waiting for approval are slowly becoming optimistic. Mike Novogratz’s Galaxy Digital and Cathie Wood’s Ark Invest are among them. Two more ETF futures could hit the market in late October as the SEC has longer deadlines to approve offers from Valkyrie and VanEck. The agency also showed its intent when one of the social media accounts tweeted an investor newsletter about trading BTC futures:

“Before investing in a fund that holds Bitcoin futures, you should carefully weigh the potential risks and benefits.”

As recently reported, the SEC has approved a BTC ETF with a portfolio that includes 30 companies, including PayPal and Tesla. The approval comes as the crypto space requires strong approval from the SEC. The community has long waited for the approval of a Bitcoin ETF by the Securities and Exchange Commission, now the agency has taken a step in the right direction with the approval of a fund called “Volt Bitcoin Revolution ETFs”.

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