SEC to Change Rules or Allow Bitcoin ETFs to List

The U.S. Securities and Exchange Commission (SEC) has quietly begun considering proposals for two bitcoin exchange-traded funds, according to documents disclosed by the U.S. Securities and Exchange Commission (SEC), and has also started a formal process to determine whether to approve a rule change to allow listings on the NYSE Area. These two cryptocurrency exchange-traded funds.

It is reported that these two exchange-traded funds were proposed by fund provider ProShares, namely ProShares Bitcoin ETF and ProShares Short Bitcoin ETF. They will respectively hold Bitcoin futures contracts to provide retail investors with the investment products they are most familiar with. , and then "indirectly" invest in cryptocurrencies.

In fact, ProShares had submitted these two funds to the US Securities and Exchange Commission in September last year, even before the CME and CBOE launched bitcoin futures products. But at the time, the SEC asked fund providers to withdraw their bitcoin ETF applications and issued a statement expressing reluctance to approve the products until more investor protections are put in place.

However, just last month, CBOE President Chris Concannon sent a letter to the SEC asking them to reconsider the Bitcoin ETF proposal. He mentioned that Cboe has successfully cleared several rounds of bitcoin futures expiration products, and said that the bitcoin market is rapidly maturing to handle regulated bitcoin exchange-traded funds better.

According to information released by the SEC, the proposed rule change will be published in the Federal Register and then made publicly available, with 21 days to comment on the bill and 14 days to file rebuttals for additional comment .