Bitcoin prices are on fire with prices rising some 540% this year to $6,346.

ProShares filed with the Securities and Exchange Commission to provide an exchange traded fund that would trade bitcoin futures contracts, which are reportedly launching in a matter months. 

"When I look at [bitcoin], I view it as a part of my portfolio that is very, very speculative," said Peter Tchir of TheStreet's Income Seeker. "I don't treat it as a currency, I don't treat it as fixed income. It's like going to Vegas and putting two up, betting on craps two the hard way. It is a very risky bet."

That said, Tchir thinks a bitcoin ETF could act as a significant boon to bitcoin prices. 

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