The U.S. Securities and Exchange Commission (SEC) approved bitcoin futures ETFs on Friday. ProShares filed for its Bitcoin Strategy ETF this past summer. The fund is linked to bitcoin futures that are traded on the Chicago Mercantile Exchange. With the SEC mulling dozens of bitcoin ETFs, Chairman Gary Gensler has made it clear that funds linked to the futures market rather than the underlying asset were more likely to win regulatory approval. Bakkt, based in Alpharetta, Ga., and founded in 2018, began trading Monday under the ticker symbol “BKKT” on the New York Stock Exchange. VPC Impact Acquisition Holdings is affiliated with Victory Park Capital. VPC impact holders approved the deal with Bakkt last week. DraftKings tapped Polygon for its marquee non-fungible token (NFT) release with Tom Brady’s Autograph back in August. Now the sports betting giant is going all-in on the Ethereum layer-2 solution with a partnership that could make it one of the blockchain’s largest governors.
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