SEC offers a new ETF format
As you know, launching an ETF is vital for the entire cryptocurrency market. Entrepreneurs including the Blockforce Capital company do their best to support a new type of derivatives.
ETF offered by this company has not quite standard characteristics. Blockforce subsidiary, Reality Shares ETF Trust, offers Bitcoin investment in a wider portfolio of investment tools.
Currently, the SEC has officially received the N1-A Form from this company for the creation of a joint investment project with NYSE Arca. The fund, if approved, will have a global currency strategy investing in short-term sovereign debt instruments, as well as in Bitcoin futures, mutual and other cash equivalents according to the permits.
The main goal of this ETF is in its idea. Owners of the fund will not invest directly in BTC, nor will they receive income. Upon expiration of the contract, investors will receive cash equivalents of BTC, but not the coins. The fund does not plan to invest directly in Bitcoin.
Initially, investments in futures offered by Cboe and CME are planned, but other crypto futures products will also be sought in the future.
It is not yet known how the representatives of the SEC responded to the new project, but after the application has been officially adopted, they will have 240 days to consider it.
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