In contrast to the news coming from Canada, US regulators have stated that such funds are not ready for regulation under US law.
The source for this assertion is another one of their own articles:
Today, January 9, ProShares, Raffety Assets Management and VanEck all withdrew their Bitcoin-related ETF proposals from SEC consideration, at the regulator’s request. Rafferty Assets Management commented that the SEC “expressed concerns regarding the liquidity and valuation” of the underlying asset.”
None of the withdrawn proposals were actually Bitcoin ETFs, per se. An actual Bitcoin ETF is widely seen as the holy grail of mainstream financial acceptance, as it would require the purchase of actual Bitcoins in order to “back” investments in the ETF. All of the proposals withdrawn today were related to Bitcoin futures markets.
But according to Coindesk, and the Globe and Mail article where they picked up the info:
According to the Globe and Mail, two other Canadian companies, First Trust Portfolios Canada and Evolve Funds Group Inc., are also seeking to launch blockchain funds, and filed their first prospectuses with regulators this week.
First Trust is already a presence in the U.S. market, offering its blockchain ETF under the ticker LEGR. The introduction in Canada of its First Trust Indxx Innovative Transaction & Process ETF (ticker: BLCK), modeled after the Indxx Blockchain Index, is the product of client demand, the company said.
Seems like the CoinTelegraph article is confusing Blockchain ETF with Bitcoin ETF and Bitcoin futures markets.
From the article:
The source for this assertion is another one of their own articles:
But according to Coindesk, and the Globe and Mail article where they picked up the info: