[2018-01-06]Bitcoin: If the NYSE has its way, a risky leveraged ETF which double

[tyz]

If the NYSE has its way, a risky leveraged ETF which doubles the return of bitcoin could soon hit the market

The New York Stock Exchange has asked SEC regulators to list five exchange-traded funds that track bitcoin futures on one of its markets. The ETFs are short-term investment vehicles designed to multiply returns in the cryptocurrency market, the SEC filing said.

https://www.cnbc.com/2018/01/06/nyse-asks-regulators-for-permission-to-list-bitcoin-futures-etfs-.html

[richardsNY]

It's just the beginning of a flood of whole new Bitcoin related financial products that we will get to experience in the coming years. It's usually financial institutions who like to repack everything in an attempt to sell it as brand new product, while in reality is just a mixture of already existing products, but then with a higher level of risk exposure. I can already see more of these products being pumped into the market this year. It's basically them looking to get their cut of this massive market, that in current days is still extremely small. Once banks start smelling money, oh boy, prepare yourself for what has to come!