SEC Appears Closer to Okaying Bitcoin ETFs

This time might be different. That’s the mantra sweeping through ecosystem platforms. After what seemed like a permanent hiatus, the SEC is back, supposedly considering allowing the electronic exchange NYSE Arca to host the first Bitcoin ETFs.

Two Bitcoin ETFs are up for grabs, and both from Pro Share Capital Management LLC, Pro Shares. It’s a comparatively small asset manager, inching toward 30 billion USD. The company is known for its ETF products, dozens of them in fact, each with a focus or strategy. Typically, their products are split into alpha, ultra, short. Shorts are inverse market products, and the alpha is tethered to the Credit Suisse Index. Ultras beef up performance by a factor of two. Perhaps its advantage to bitcoiners is through low fees and taxes. ETFs can also serve as a long term savings vehicle, at times even beating traditional mutual funds. Read more

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