Cryptocurrency lender BlockFi has filed with the U.S. Securities and Exchange Commission to launch a futures-based Bitcoin exchange-traded fund in the U.S.
If approved, its shares will be trading on Cboe BZX Exchange.
The fund will not invest directly in Bitcoin:
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The fund seeks to invest in bitcoin futures so that the total value of the bitcoin to which the fund has economic exposure is equal to approximately 100% of the net assets of the fund.
A slew of analysts expects the SEC to finally approve a futures-based Bitcoin ETF this October.
Alex DovbnyaIn July, BlockFi appeared in regulatory crosshairs, with multiple states accusing it of offering unregistered securities.
Tomiwabold Olajide
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U.Today Editorial Team
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