Tech

US SEC Does Not Approve Leveraged Bitcoin Fund – WSJ

File Photo: The representation of the virtual cryptocurrency Bitcoin can be seen in the figure in this photo taken on October 19, 2021. REUTERS / Edgar Su / File Photo

October 27, 2021

(Reuters) – The US Securities and Exchange Commission (SEC) has asked at least one asset manager to revoke plans for leveraged Bitcoin exchange-traded funds, the Wall Street Journal said Wednesday. Reported .wsj.com/3mivSkT. , Quote someone who is familiar with the problem.

The report said the SEC has signaled that it wants to limit its new Bitcoin-related products to those that offer unleveraged exposure to Bitcoin futures contracts.

The SEC’s approval of the ProShares Bitcoin Strategy ETF, the first Bitcoin futures-based exchange-traded fund in the United States, was seen as a turning point for cryptocurrencies and pushed up Bitcoin prices. The fund started trading last week.

The SEC did not immediately respond to Reuters’ request for comment.

(Report by Amruta Khandekar; edited by Devika Syamnath)



US SEC Does Not Approve Leveraged Bitcoin Fund – WSJ

Source link US SEC Does Not Approve Leveraged Bitcoin Fund – WSJ

Back to top button