Investment Advisers ‘extremely Skeptical’ About First U.S. Bitcoin ETF: ‘It’s A Hard Thing For RIAs To Recommend An Inferior’ Crypto Product

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Happy Sunday! Welcome to the penultimate installment of Need to Know Crypto Edition, ahead of the launch of a new weekly crypto newsletter “Distributed Ledger,” which will kick off next month.

I’m Mark DeCambre, managing editor of markets and I’ll walk you through the latest and greatest in digital assets this week so far. There is a lot of ground to cover, especially as ProShares bitcoin futures exchange-traded fund could debut as early as next week, marking a milestone in digital assets.

Crypto in a snap

It has been nearly eight years in the making and scores of applications have been rebuffed along the way, but there is finally going to be an ETF loosely pegged to bitcoin that offers average investors access without having to worry about custody of digital assets.

ProShares submitted an amended filing with the Securities and Exchange Commission on Friday for a bitcoin futures ETF, which carried all the hallmarks of a regulatory filing…

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