Managing Director of Digital Currency Group, Barry Silbert, is examining the idea of a physically backed Exchange Traded Fund (ETF), which should make investing in digital currencies even more accessible to investors. Barry Silbert encouraged his followers to “follow” in response to a tweet about the Bitcoin Trust turning to gray stone in ETFs.
Doubts by regulatory authorities about investor protection. So they reject ETFs that don’t track bitcoin directly to keep investors safe. Instead, investors have access to futures contracts with the Chicago Board of Trade.
ProShares ready to launch Bitcoin Futures ETF
In a similar move, ProShares will launch Bitcoin futures, which will be traded on exchanges on Monday. With approval from the US Security and Exchange Service, this is the first of its kind in North America.
Joe Orsini, Research Director at Eaglebrook Advisors, has taken some risks with ETF futures. He argues that it would be suitable for intraday trading rather than long term investment. This can also lead to possible market fluctuations. This may not be a good thing if ignored by applicable regulations or guidelines.
Is ETF futures approval ideal?
Last month there were several reports for the CEO of Grayscale Investment Management. CEO Michael Sonnenstein believes approving exchange-traded futures funds before spot-based assets is “narrow-sighted”.
It is almost time for Bitcoin to become a spot-based ETF. The company is on the verge of filing an application with the SEC as an (ETF), according to a report by CNBC on Thursday.
David LaVal is the newly appointed CEO of Grayscale and plans to make September a great month for investors.
The senior crypto asset manager has confirmed that he plans to convert his Bitcoin trust into an ETF in early April. This will give investors access and exposure to many markets.