New York Stock is getting around Bitcoin ETFs

The New York Stock exchange, probably the biggest name in the traditional finance has requested the approval to launch a number of Bitcoin ETFs. As it has been stated by Business Insider, there will be five Bitcoin ETFs that will be launched, separated into three bull funds and two bear funds which will be allowed to bet for or against the current price that Bitcoin is trading for.

ETF or Exchange Trade Fund is a fund traded through stock market that implies certain yield for the user at minimum costs.  The ETFs were designed to provide a multiple of returns on Bitcoin. If the price of the coin declines, the losses would also magnify.

There will be a correlation between Bitcoin futures’ prices of CME and CBOE and the exchange funds, but there is no official word on when or if this will actually happen. The Bitcoin futures have been on the market since December 2017 and represent an agreement to sell or buy an asset at a certain scheduled hour or date and with a price defined in the moment the contract was signed.

If the SEC approves the five ETFs requested, that would make the access to Bitcoin easier and may attract more institutional money.