BlockFi Files for BTC Futures


BlockFi recently filed an application with the (SEC) Securities exchange commission to take part in the journey to registering BTC futures (ETF) Exchange Trade Fund.

The company will get housed under the investment Act (1940). This investment has cash-settlement agreements marketing on the CME(Chicago Mercantile Exchange).

The Commission has not approved any BTC ETFs, but Volt Equity’s ETF got lucky. The Volt Equity approval is considered a significant step for the Crypto market in the United States. Critics are hopeful that next year the SEC will approve most of these BTC ETFs.

In September, Gary Gensler, chair of the SEC (Securities & exchange commission), expressed his support for BTC futures ETFs. Unlike BTC ETFs waiting for approval, four Bitcoin Futures ETFs might pass by this month.

These Bitcoin Futures ETFs include Invesco, VanEck, ProShares, and Galaxy Digital and Valkyrie

Currently, the BlockFi application is the last one on the list, with ProShares up first and Valkyrie second.

Despite the wait for approval, Bitcoin Strategy Profund aims to give traders exposure in BTC futures hence easily incorporate Crypto in their portfolios. This Strategy Profund is the first of its kind in the US & helps users avoid holding Crypto in exchange platforms or wallets.

The SEC agency is rigid when it comes to approving ETFs due to these funds’ fraudulent risks and volatile nature. Additionally, the effect they have on the general market is a concern for the Commission.

What is an ETF?

Exchange-traded funds (ETF) consist of securities as well as shares sold on an Exchange.

Like other stocks, Exchange Trade Funds get traded daily with price changes affected by Supply and Demand.

About BlockFi

BlockFi is a wallet and Crypto exchange serving individuals and businesses globally. Users trade with no fees, earn interest and even get loans backed by their portfolio.

Traders on the platform can use USD, stablecoins, & Cryptocurrency. Additionally, the company is trustworthy and legit.

About BTC Futures

Bitcoin futures expose investors to Bitcoin but do not necessarily hold onto the underlying Crypto. To begin transacting with the platform, users need to set up an account with the exchange platform. Upon approval, these users can start the transaction process.

Conclusion : BlockFi & BTC Futures

In summary, BTC futures are a new development& the Crypto market is subject to uncertain & drastic changes. The SEC chair Gary Gensler is opening up to approving BTC Futures ETFs soon, & Crypto enthusiasts are hopeful the agency will authorize more ETFs next year.

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