Crypto.news recently reported that Direxion has filed for a Bitcoin and Ether Exchange-Traded Fund (#ETF ). This filing shows that the company wants to achieve their investment goal by trading crypto futures contracts on the Chicago Mercantile Exchange (CME).

Direxion is not the only one to apply for futures ETFs. BlackRock, Valkyrie, and others have launched futures ETFs. However, the US Securities and Exchange Commission (#SEC ) has not approved ETF applications for years.

After BlackRock’s successful filing, other firms have been encouraged to follow the same path. Forbes has attributed #BlackRock’s success to addressing some concerns the SEC cited before rejecting other past applications.