Bitcoin Bitcoin Futures-Based ETF Likely to Be Approved in the U.S. Soon By plugeldadmin Posted on September 26, 2017 3 min read 0 0 13 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr Plunge Into Bitcoin covers news and analysis on the trends, price movements, technologies, companies and people in the bitcoin and digital currency world. Bitcoin Futures-Based ETF Likely to Be Approved in the U.S. Soon Go to article The race is on: who will be the first to launch a Bitcoin exchange-traded fund in the United States? In Europe, there is already a Bitcoin exchange traded note (ETN) available to investors. In the U.S., it is widely anticipated a Bitcoin ETF will be be approved by the U.S. Securities and Exchange Commission (SEC) very soon. In Europe, ETNs are designed to track the movement of Bitcoin against the U.S. dollar. The ETNs are Bitcoin Tracker One, which is traded in Swedish krona and Bitcoin Tracker EURO, which is traded in euro. Both ETNs are issued by XBT Provider AB and traded on Nasdaq OMX (Stockholm). Dave Nadig, CEO of ETF.com and previously the director of ETFs at FactSet Research Systemsm believes we can expect to see Bitcoin Futures-based ETF launched in the U.S. by the end of this year. “Yes, you can already trade a derivative in Europe, an exchange traded note which tracks Bitcoin,” Nadig adds. “Then the race in the U.S. is the race to see what gets approval first. Will it be a Bitcoin future or a straight up Bitcoin holding ETF? My bet is that we will see Bitcoin futures approved fairly quickly.” Like this:Like Loading… Source link Plunge Into Bitcoin covers news and analysis on the trends, price movements, technologies, companies and people in the bitcoin and digital currency world.