Trendy investments are especially ripe cro crypto news for fraudsters so be aware there is a real risk of fraud. Scam artists prey upon the newness of an investment opportunity when there isn’t as much history about the product. It’s also easier to sell an investor on an “everyone is buying it” sales pitch when there’s a lot of buzz about a certain investment product. The pressure to buy the product right away mounts. In August 2021, SEC Chair Gary Gensler said that he was open to the idea of ETFs that invested in cryptocurrency futures, but not those that invested in the spot markets, because the futures markets are already regulated by the Commodity Futures Trading Commission. In October 2021 the first two Bitcoin futures ETFs—the ProShares Bitcoin Strategy ETF (BITO) and the Valkyrie Bitcoin Strategy ETF (BTF)—were approved and launched. While a few others have followed, they are all limited to Bitcoin and Ethereum, as those are the only two cryptocurrencies for which an active futures market is currently established.