The first Bitcoin ETF 2021 is preparing for its debut

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ProShares will soon launch the first bitcoin ETF in history. But, the company is holding back from loud statements so far.

Who are Proshares

The company was founded in 2006. She deals with futures offers to investors. Proshares considers itself a leader in such offers as dividend growth, interest rate hedged bonds and focused investment.

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The company has a large set of securities packages in the IT sphere, business and finance.

Bitcoin ETF is getting ready to Launch

The head of the fund provided a document for bitcoin futures that meets all the criteria of the regulatory application. The application will be launched soon.

The submitted application will deploy the fund in the near future, Rosenblut said. Exchange-Traded Fund to put an end to the pressure to approve such investment proposals, which have lasted since 2013, which in the end the SEC successfully rejected.

It all started when SEC Chairman Gary Gensler began to speak positively about the documents providing investors and ETFs that will be associated with personal data with its owner.

The SEC office made a retweet that links to the June bulletin with the message: «investors should understand that bitcoin, including gaining access to the bitcoin futures market, is a highly speculative investment». This action can be regarded as the fact that the ETF is inevitable.

The ProShares offer can be symbolized by "BITO", and the fund's return and expense ratio will be 0.95%, which means that it will cost $9.50 per year for every $1,000 invested.

Risks of exchange-traded investment funds

Some of the experienced users of the cryptocurrency world have proven that futures on ETFs, unlike direct use of bitcoin, entails new costs for the owner of coins. However, it was noted that this can be avoided with the help of the spot market.

Futures – these are derivative financial instruments that are designed to allow investors to access a commodity without owning it directly. However, futures contracts are concluded monthly or expire and must be redeemed, which can increase the costs of fund administration, which, in turn, are transferred to end users. Apart from costs, futures do not always accurately track the underlying asset.

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