[2017-09-28] Two More Bitcoin Futures ETFs Are Up for SEC Approval

[tyz]

Two More Bitcoin Futures ETFs Are Up for SEC Approval

A Maryland-based exchange-traded fund (ETF) firm has filed to launch two new bitcoin futures-based products.
According to a Form S-1 dated September 27, ProShares Capital Management wants to create two bitcoin-tied funds: the ProShares Bitcoin ETF and the ProShares Short Bitcoin ETF. Like other proposed ETFs that have emerged in recent months, ProShares isn’t planning to buy direct stakes in the cryptocurrency; rather, it intends to create exposure through derivatives contracts.
Per the filing, ProShares is aiming for a maximum aggregate offering price of $1 million, priced at $25 per share, with a plan to have it listed on the NYSE Arca exchange.

https://www.coindesk.com/two-bitcoin-futures-etfs-sec-approval/

[Kprawn]

What has changed since the Winklevoss's ETF proposal has been shot down? The SEC will only make the same ruling,

because they are influenced by Fiat masters pulling the strings. These people will not allow for competition to their empire.

Even if you play by their rules. The excuses will stay the same and we will go through the same motions with a negative

outcome.  

[fisheater]

Nice, I hope the ETFs will get approved, I will put my retirement acct in these funds.

[pginvest]

Even though the SEC shot down the Winklevoss Bitcoin Trust, I was wondering if the twins actually put their money where their mouths were? Its a couple of years now since the 2 of them made their settlement with Zuckerberg over their disputed Facebook ownership claim, and at that time they claimed that they were "All In" on BTC.

If indeed they were they must be extremely well to do now.

Anyone have the lowdown on this?

[Kemarit]

What has changed since the Winklevoss's ETF proposal has been shot down? The SEC will only make the same ruling,

because they are influenced by Fiat masters pulling the strings. These people will not allow for competition to their empire.

Even if you play by their rules. The excuses will stay the same and we will go through the same motions with a negative

outcome.  

Exactly, they already shoot down the first proposal. So I'm wondering what's its gonna be this time. And as far as I can remember there's a second review. SEC agreed to consider Bats' petition for review and asked for public comments on the original disapproval order. I never heard what happened to the review though. I'm just curious as to what reason they may gave this time.

I think they are heavily pressured by some entities not to give approval though. But on the other hand, a change in the board on SEC will definitely be a good sign. It might that this group of people are bitcoin friendly and I reversal is possible.

[peter0425]

It will end up similar to the Winklevoss ETF application. - DENIED

And i'm very skeptical that they would change their tune. Doesn't make any difference as to is filing, they would still believe that bitcoin market is open for manipulation, thus hard to regulate. And they also find it hard to take actions against those exchanges who resides outside of their jurisdiction. So if an American complaints against an exchange that is outside of the US, then SEC can't do anything about it because its out of their jurisdiction. Market manipulation is difficult to prove, what more an exchange that is operating to scam people.