• News
  • Money

NYSE Arca Seeks SEC Rule Change for Bitcoin ETF Listing

NYSE Arca Seeks SEC Rule Change for Bitcoin ETF Listing

NYSE Arca looks set to be the latest major equities market to deal with bitcoin with the exchange filing two applications with the Securities and Exchange for approval to host bitcoin-related exchange-traded funds.

Already, REX has refiled for two ETFs, namely REX Bitcoin Strategy ETF and REX Short Bitcoin Strategy ETF with the Securities and Exchange Commission (SEC) while VanEck has re-applied for the VanEck Vectors Bitcoin Strategy ETF.

An ETF is a marketable security that tracks an index, a commodity, bonds or a basket of assets like an index fund.

$35 million in trades occurred with CME launched its Bitcoin futures exchange, with over 370 contracts processed. The arrival of the Bitcoin futures products by the CME and CBOE group is a testimony to the fact that financial institutions have seriously started considering Bitcoin as a mainstream digital currency.

On the other hand, GraniteShares plans to launch GraniteShares Bitcoin ETF and the GraniteShares Short Bitcoin ETF, which will both invest in front-month bitcoin futures.

It seems investors' interest in the cryptocurrency bitcoin is unlikely to subside soon. Bitcoin futures make the Bitcoin market available to a large portion of investors that couldn't access the global Bitcoin market before, including retail traders, institutional investors, investment banks, and hedge funds. The introduction of futures contracts, and the corresponding increase in liquidity it promises, is expected to smooth out the volatility. "When the price of Bitcoin Futures Contracts held by the Fund declines, the Fund will lose value". While Cboe processed more contracts that CME, a CME contract is worth more Bitcoins than a Cboe contract (a CME contract equals 5 Bitcoin whereas a Cboe contract only equals 1 Bitcoin). "Beyond that, we don't have any calls on where it will go from here".

Leave Your Comment

Leave Your Comment


Latest News

  • The truth is out on 2G: Rahul Gandhi

    The truth is out on 2G: Rahul Gandhi

    The high-level meeting comes a day after the party's top leadership was acquitted by a special CBI court in the 2G spectrum "scam".
    Apple will put an EKG reader on Apple Watch (I doubt it)

    Apple will put an EKG reader on Apple Watch (I doubt it)

    Apple revealed it was working on this initiative, which is in partnership with Stanford University, when it released WatchOS 4. A spokeswoman for the company declined to comment on the report .
    Google is tightening the ship for Android app performance in 2018

    Google is tightening the ship for Android app performance in 2018

    While Play Services might not be in charge of any visual features, it does make sure that all apps run as they are supposed to. Apps that target Nougat tell the phone or tablet they don't trust user-added certificates for secure connections.
  • Maine Unemployment Rate 3.3 Percent in November

    Maine Unemployment Rate 3.3 Percent in November

    In Iowa, the unemployment rate for November was 2.9 percent, compared to 3.5 percent in the same month a year ago . The 235,000 average for the last two weeks is similar to the four-week average, with the level historically low.
    IPhone Owners Sue Apple Over Slowdown Admission

    IPhone Owners Sue Apple Over Slowdown Admission

    We've now extended that feature to iPhone 7 with iOS 11.2, and plan to add support for other products in the future. Apple is being sued after it admitted to slowing down older iPhone models to keep them running longer.
    Watch a clip from Dave Chappelle's forthcoming Netflix special

    Watch a clip from Dave Chappelle's forthcoming Netflix special

    This will mark the comedian's third and fourth comedy specials set at Netflix for this year as part of a wide-ranging deal. Chappelle talked about encountering " poor whites" when he voted in the presidential election.
  • Christmas toy distribution held at Salvation Army of Marquette

    Christmas toy distribution held at Salvation Army of Marquette

    The Salvation Army of Metro Detroit had taken in $4.3 million out of its $7.85 million goal for the year, as of Tuesday. The non-profit organization is asking for the community's support to help reach their goal of $100,000.

    Tidal will be completely free for 12 days starting on Christmas

    TIDAL is available in more than 52 countries, with more than a 52 million song catalog and 199,000 high quality videos. This new promotion is the flawless chance to see if TIDAL Hi-Fi is worth that rather high monthly cost.
    Papa John's founder to quit as CEO

    Papa John's founder to quit as CEO

    In 2010, he took on a co-CEO, Jude Thompson, but that arrangement ended the following year. Papa John's stock closed at $59.23, down 2 cents or 0.03 per cent on Thursday.
  • For Christmas, Ohio teachers get wine bottles with student's face on labels

    For Christmas, Ohio teachers get wine bottles with student's face on labels

    She and her husband, Paul Sommers, gave the wine to the teachers at their son Jake's school in Kettering. For some parents, along with friends and family, their children's teachers make it on the gift list.
    MISSILE ACTIVITIES: New & tougher sanctions underway for defiant North Korea

    MISSILE ACTIVITIES: New & tougher sanctions underway for defiant North Korea

    To pass, a resolution needs at least nine votes in favor and no vetoes by the U.S, Britain, France, Russia and China. North Korea's foreign ministry condemned the report, calling it a document full of Trump's criminal nature.
    US backs re-election of Honduran president despite dispute

    US backs re-election of Honduran president despite dispute

    She also said Honduras must aim to "heal the political divide in the country" and create election reforms. By mid-week some 27 people had died in clashes, according to local human rights group COFADEH.
  • Kohl's Christmas Eve Hours 2017

    Kohl's Christmas Eve Hours 2017

    Aside from also being open from 10-4pm on Christmas Eve , Tesco will also open their chemists on Christmas Day from 11am-1pm. Best Buy : Best Buy locations will be open until 11 p.m. all weekend and until 6 p.m. on Christmas Eve .
    Miss America Organization loses TV partner over emails

    Miss America Organization loses TV partner over emails

    Emails also show that Haskell referred to Gretchen Carlson as a "snake" after she refused to blacklist Shindle from her show. The Huffington Post article shows that Haskell and others directed considerable attention to Hagan, who won the 2013 pageant.
    Rohit's record joint fastest century powers India to 260 in second T20I

    Rohit's record joint fastest century powers India to 260 in second T20I

    Following Story was posted prior to the beginning of 2nd T20 between India and Sri Lanka at Indore on December 22, 2017 . India is already leading the three-match series 1-0, and the next bilateral battle will begin at 13:30 GMT.
  • Arsene Wenger disastrous decision on Alexis Sanchez slammed

    Arsene Wenger disastrous decision on Alexis Sanchez slammed

    Arsenal manager Arsene Wenger reveals that he is "90%" sure that the squad will stay the same during the January transfer window. Can anything improve Manchester City right now? Guardiola added Bernardo Silva to his already attacking ranks.
    Translator accused of spying for Russian Federation  accompanied Ukraine PM on Ottawa visit

    Translator accused of spying for Russian Federation accompanied Ukraine PM on Ottawa visit

    Yezhov was also present for meetings between the Ukrainian government and the then-US vice-president Joe Biden in 2016. Ukraine's main security agency has arrested a senior government translator and accused him of being a Russian spy.
    Jewish Groups Condemn African National Congress' Downgrading Ties with Israel

    Jewish Groups Condemn African National Congress' Downgrading Ties with Israel

    There is generally anger across the board about land, no one who lives in South Africa can deny that fact. Meanwhile 10 Palestinians have been killed by Israeli forces since U.S.

Breaking News



Recommended

Elon Musk tweets first photographs of Falcon Heavy rocket

For example, Musk previously said he planned to launch the "s$3 illiest thing we can imagine" on Falcon Heavy's first test-flight. Chief Executive shared the photos in a tweet, saying the rocket was now at Cape Canaveral in Florida.

Ambassador's Claim About Fake News Claim Is Fake News

Hoekstra, a former chairman of the House Intelligence Committee, spoke on a panel there titled, "Muslim Migration into Europe: Eurabia come True?"

More than 3 million NC residents to travel during Christmas holiday

AAA Two and Three Diamond Rated hotel prices are down. "If that plan falls through, give AAA a call and we'll get you home". USA motor trips will rise to 97.3 million for this holiday season, the seventh consecutive annual increase, AAA said.

Princess Michael of Kent wears racist brooch to Buckingham Palace

One guest was Princess Michael of Kent , who chose to wear a rather interesting brooch for her first meeting with Meghan . The princess strongly denied the allegations, claiming she said that she would be "ready to go back to the colonies".

News host Catt Sadler leaves the show over gender wage gap

Scruggs concluded her post by praising her husband for being "a class act even in unfortunate circumstances". Was Catt Sadler right about her pay gap?? News host.

Lamar Odom Reacts To Khloe Kardashian's Pregnancy Confirmation

In the caption, Jenner wrote that God is good and that the baby is a blessing. Kardashian is also very happy with her and Thompson's "healthy" relationship.

Christmas Kettle Campaign issues urgent plea

Campaign organizers attribute the decline in donations to Hurricane Harvey "fatigue" and the recent dreary weather conditions. Wolfe Sr. suffered a few bumps and bruises in the scuffle, but he says nothing would take away his Christmas spirit.

Suspect, child killed during gun battle with BCSO deputies, sheriff says

It is misty on the off chance that she was associated with the auto burglary which initially conveyed police to the trailer park. Over the span of the examination, experts said they went over a lady in her 30s endeavoring to break into a trailer.

Sportscaster Dick Enberg found dead at home at age 82

While at Central Michigan, Enberg was employed by Detroit Tigers radio affiliate WSAM in Saginaw. He called the 1979 Final Four championship game between Michigan State and Indiana State.

Apple Now Requires Games Offering Loot Boxes to Disclose Odds

A template service uploading thousands of apps at once under a single developer account could cause the App Store to crash. While there'll still be some mystery as to what you'll get, you'll at least have a better idea of the odds of getting it.