I’m not a sophisticated investor, and would appreciate the answers, not sure if others have the same questions.
From what I’ve read:
* BTC futures ETF (which is posed to be approved as early as next week): tracks the price of BTC futures contracts
* BTC ETF (no news about approval yet): tracks the spot price of BTC
From SEC’s POV (source [FT article](https://www.ft.com/content/d7601039-e98e-47c8-97af-79f96c2c3d94), here’s the [link](https://archive.vn/rIa56) w/o paywall):
* Gary Gensler hinted that he is more comfortable with trading on regulated futures venues such as the Chicago Mercantile Exchange
* SEC is concerned about a potential lack of liquidity and the risk of price manipulation on spot exchanges
* SEC believes bitcoin futures are more appropriate for retail investors than trading in the underlying spot market
* so appears SEC favours a BTC futures ETF, because the futures contracts are traded in a “regulated” exchange (CME), while Bitcoin is not?
* what are other reasons that SEC favours a BTC futures ETF at the moment?
* (might be a naively broad question) from investor’s POV, or the ETFs holding BTC futures, would trading BTC futures more risky, than trading BTC?
Thanks in advance.