Bitcoin has attracted a lot of attention this past year owing to the benefits it offers users and mostly the surge in its value. The cryptocurrency has had its fair share of highs and lows and has been gaining popularity since its inception in 2009. Within the first week of 2018, the New York Stock Exchange (NYSE) requested launch various ETF’s or exchange-traded funds related to Bitcoin. According to the permission that has been filed with the United States Securities and Exchange Commission, NYSE plans to launch a total of 5 ETF’s that offer various futures contracts. The prices of these EFT’s are linked to Bitcoin futures that are listed on both CBOE and CME exchanges.
New York Stock Exchange Files to List Leveraged #BitcoinETFs: The post New York Stock Exchange Files to List #LeveragedBitcoinETFs appeared first on CCN The New York Stock Exchange (#NYSE) has filed to list five leveraged exchange-traded funds…The Bull Funds offered by the exchange offer 200 percent, 150 percent and 100 percent returns as per the contract and have been categorized into 2x, 1.5x and 1.25x. The document filed with the SEC states that the funds may not be traded for more than a day and will offer percentage returns. Furthermore, Bear Funds will enable investors to make use of any decline in value of the popular cryptocurrency to their advantage. There are two separate funds for Bear Fund investors one being 1x and the other 2x fund each shelling out 100 and 200 percent gains, should the daily contractual gains be met. Similar to other Bear Funds, a rise in the value of the cryptocurrency will lead to a loss that has been compounded by either 1x or 2x as per the contract.