Crypto Community May Get Strong Booster For Growth On Aug 23: SEC Will Give ProShares Bitcoin ETF Solution.
The SEC has set a final decision date on the application for Bitcoin ETFs from ProShares. Applications for ProShares Bitcoin ETF and ProShares Short Bitcoin ETF have been submitted for consideration. The main component of the funds will be futures contracts for the most capitalized coin (bitcoin).
A distinctive feature of the application is the application for listing on the NYSE ETF based on derivatives from the main assets. It is noteworthy that ProShares has already filed a petition for SEC review, which was not approved due to the lack of actual market readiness for the adoption of the new instrument..
Now there is a revival on the market, which many experts associate with the anticipation of the publication of the solution. A positive outcome will have a positive impact on the overall health of the market, as ETFs are inextricably linked to the expectations of the arrival of institutional investors. In case of a negative decision, we should expect a fall in the value of the main cryptocurrencies..
Earlier transfers of ETF decisions or refusals from the SEC have already reduced the rate of coins. The accumulated experience on the part of the crypto community opens up prospects for a repeat of the reaction. However, some skeptics also note a greater likelihood of the cancellation of the decision with its next postponement to an unknown time..
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text: Evgeniya Likhodey