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New York Stock Exchange registers several ETFs on Bitcoin indexes

ICO-LINK-NEWS-New-York-Stock-Exchange-registers-several-ETFs-on-Bitcoin-indexes

The New York Stock Exchange (NYSE) has applied to the Securities and Exchange Commission (SEC) to register five exchange-traded index funds (ETFs) tied to the Bitcoin rate - the so-called marginal and inverse ETFs. The proposed funds are designed to track trade in Bitcoin futures markets. According to the application, ETF seek to provide investors with an income that multiplies the profits in the core market and represents a short-term investment.

 Among them, three bulls, or marginal, stock (Direxion Daily Bitcoin 1.25X Bull Shares, Direxion Daily Bitcoin 1.5X Bull Shares, Direxion Daily Bitcoin 2X Bull Shares) and two bearish, or inverse, stock (Direxion Daily Bitcoin 1X Bear Shares, Direxion Daily Bitcoin 2X Bear Shares).

Within the framework of the presented funds, a 1% increase in the price of Bitcoin will bring investors investing bull ETFs from 1.25% to 2% of revenue, and will deprive 1-2% of the funds of investors who invest them in inverse ETFs.

"Investors are likely to evaluate these products as a way to profit from price movements without taking security risks when buying actual Bitcoins or guarantee accounts for futures trading," said Dave Weisberger, head of the crypto currency company CoinRoutes.

 If the SEC approves new ETFs, they will appear on the secondary market of NYSE Arca in the coming months.


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