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TradeStation to support proposed bitcoin ETFs


TradeStation, an online broker-dealer and futures commission merchant, intends to support trading in two proposed exchange-traded funds (ETFs) tied to bitcoin, pending federal regulatory approval of such listing.

On 4 December, NYSE Arca, which is owned by Intercontinental Exchange (ICE), submitted a proposed rule change to the US Securities and Exchange Commission (SEC) that would allow it to list two ETFs, the ProShares Bitcoin ETF and the ProShares Short Bitcoin ETF.
The proposed ETFs would track one of two recently launched benchmark Bitcoin futures contracts: the XBT contract from Cboe Global Markets (Cboe), traded on its Cboe Futures Exchange (CFE), or the BTC contract offered by CME Group (CME), as well as other US exchange-listed Bitcoin futures contracts (if available). TradeStation has offered its qualified customers the ability to trade the CFE and CME Bitcoin futures contracts since their first sessions, 10 December and 17 December, respectively.
If approved, the ProShares Bitcoin ETFs would, for the first time, offer equities account holders the ability to gain long or short exposure to the price of Bitcoin on a major US exchange, as the CFE and CME Bitcoin futures have done for futures account holders.

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