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:
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.
As reported by U.Today, the agency might simultaneously greenlight four applications by the end of the month.In July, BlockFi appeared in regulatory crosshairs, with multiple states accusing it of offering unregistered securities.