The New York Stock Exchange is looking to enter the race for a bitcoin ETF. A recent filing indicates that NYSE Arca is looking to list two ProShares ETFs tracking bitcoin futures – a long product and an inverse fund.
“Public records dated Dec. 19 show that the company wants to list two ETFs – the ProShares Bitcoin ETF and the ProShares Short ETF – that were originally proposed in September. According to the document, NYSE Arca, which is owned by Intercontinental Exchange (ICE), submitted the proposed rule change on Dec. 4,” reports CoinDesk.
Earlier this month, futures on the hot digital currency launched on the Cboe Futures Exchange. Earlier this week, futures on the cryptocurrency debuted on the CME. Those moves are expected to pave the way for a long awaited bitcoin ETF. The ProShares Bitcoin ETF and ProShares Short Bitcoin ETF would track Cboe futures. Maryland-based ProShares is the largest issuer of inverse and leveraged ETFs.
To date, bitcoin ETFs have not been approved by U.S. regulators. Several ETF issuers filed plans earlier this year for such products, but the plans were scrapped because, at the time of those filings, there was not a bitcoin futures market.