ProShares has published an updated Bitcoin Strategy ETF prospectus, which states that an exchange-traded fund based on Bitcoin futures will begin trading on October 18, RBC writes.

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The Bitcoin Strategy ETF from ProShares was the first exchange-traded fund in the US to be based on Bitcoin futures. The fund has received approval from the US Securities and Exchange Commission (SEC), as indicated by an updated prospectus filed by the company.

The regulator had 75 days to reject the company’s application or extend its consideration. According to the updated prospectus, the Bitcoin Strategy ETF is scheduled to start trading on October 18th.

On October 15, Bloomberg, citing its own sources, reported that next week

The SEC may approve the country’s first exchange-traded fund based on bitcoin futures.

The corresponding page for the fund from ProShares later appeared in the agency’s terminal under the ticker BITO.

Read also: What are ETFs and how to make money on them


Earlier in October, the SEC approved Volt Equity’s application to launch an ETF under the ticker BTCR. 80% of the assets under the management of the fund will be formed by shares of organizations that hold BTC as a reserve asset or receive most of their income from mining, lending or performing transactions involving Bitcoin.

In Canada, the first Bitcoin ETF earned back in February this year.