According to Coin Metrics, the price of bitcoin increased by more than 2% on Monday to $62,041.84. Many investors are waiting to see if bitcoin can break beyond $64,800 and set a new all-time high this week. Bitcoin futures ETFs will also be a significant regulatory achievement for the still-developing cryptocurrency industry, which has long battled to establish itself in the highly regulated financial world. Four additional exchange-traded funds (ETFs) are expected to start trading this month. It's possible that Invesco's will arrive this week.
Investing in a futures-based ETF isn't the same as investing in bitcoin directly. A futures contract is a contract to purchase or sell an item at a predetermined price at a future date. A futures-based ETF tracks the price of cash-settled futures contracts rather than the asset's price. ProShares, Valkyrie, Invesco, and Van Eck have all submitted bitcoin futures ETFs for evaluation in October. If the SEC does not intervene within 75 days of their papers being filed, they will be allowed to proceed with their listing.
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