first Bitcoin ETF registered
Vendor priceA global commercial law firm with offices in the United States, United Kingdom and Singapore has launched a novel bitcoin exchange-traded fund (ETF) that is unlike other existing futures ETFs, according to a news release shared by the firm. invezz,
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On Wednesday, Vader Price revealed that he had helped unveil the Hashdex Bitcoin Futures ETF — the first futures-backed bitcoin ETF specifically registered and regulated under the US Securities Act of 1933. The registration sets the new ETF apart from other BTC futures ETFs that are registered and regulated under the Investment Companies Act of 1940, the law firm noted.
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The fund has received approval from the US Securities and Exchange Commission (SEC) and will be listed on the NYSE Arca after the securities agency expedites its registration.
Fund approval may open the way for spot ETFs
Teucrium Trading, which specializes in offering investors a range of ETFs targeted at exposure to alternative markets, includes: Goods, fund sponsored. Vader Price, through shareholder Tom Conner, helped secure the necessary regulatory approvals needed to launch the ETF — including from the National Futures Association. Weather Price explained the process to be followed to obtain SEC approval:
“The first required regulatory approval was obtaining stock exchange listing authorization from the SEC. The SEC granted approval based on the argument that the bitcoin futures market has developed and matured to such an extent that the fund’s listing exchange (NYSE Arca) with its The surveillance agreement can be expected to identify business abuses.
While the SEC has yet to approve a spot bitcoin ETF, Vader Price says the approval could have “broad industry implications.” In fact, the firm considers the potential for this ETF approval to be a watershed moment for not only similar ETF applications, but also indicating the potential for a spot bitcoin ETF. Accordingly, the fund’s sponsors argue that the approval of the Hashdex Bitcoin Futures ETF “could open the door for a spot bitcoin ETF as the spot bitcoin ETF would be governed under the same rules as the fund.” The SEC Has Denied Multiple Spot Bitcoin ETFs, And As We informed of In June, chances are looking slim for anyone. Meanwhile, the watchdog has allowed a number of Futures-backed ones (including ProShares Bitcoin Strategy ETF,