First U.S. Bitcoin Futures ETF May Debut Monday, Filing Says
- ProShares fund would be first of its kind offered in the U.S.
- Invesco, VanEck and Valkyrie face similar approval deadlines
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Asset manager ProShares signaled plans to launch a Bitcoin futures exchange-traded fund as soon as Monday, an action that would end an eight-year wait for a security tracking the cryptocurrency on the U.S. stock market, according to a filing.
The fund manager filed an updated prospectus late Friday with the Securities and Exchange Commission for the Bitcoin Strategy ETF (ticker BITO). The filing indicated Oct. 18 as the approximate date for the proposed launch of the fund, which will trade on the NYSE Arca Exchange and charge a management fee of 0.95%. An official at ProShares declined to comment. A spokesperson for the SEC didn’t immediately respond to a request for comment.