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ETF Series Solutions joins the list of issuers filing for a Bitcoin Strategy ETF

ETF Series Solutions joins the list of issuers filing for a Bitcoin Strategy ETF


Seeking Alpha
2021-10-11 14:31:35
ETF Series Solutions joins the list of issuers filing for a Bitcoin Strategy ETF

ETF Series Solutions joins the likes of other issuers such as Galaxy Digital, VanEck, Invesco, and ProShares, in filing for an exchange traded fund to track the Bitcoin futures market. The new BlockFi Bitcoin Strategy ETF (NASDAQ:BBBB) aims to invest in Bitcoin futures so that exposure to the cryptocurrency makes up 100% of the fund's net assets, according to a prospectus filed with the U.S. Securities and Exchange Commission. However, neither BBBB nor any of the other ETFs will directly invest in or hold Bitcoin (BTC-USD), as regulators yet to deem that legal for U.S. ETFs. Per the SEC filing, BBBB will be an actively managed fund that will trade on the Cboe BZX Exchange. However, ETF Series Solutions has not yet disclosed an expense ratio for the fund. Bitcoin price action: +3.4% on Monday’s session, +68.7% over the past 3-months, -5.6% over the past 6-months, and +94.8% year-to-date. In other crypto ETF news, the SEC greenlit the Volt Crypto Industry Revolution and Tech ETF (BTCR)

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