Bitcoin Strategy ETF from ProShares will be available to investors under the ticker BITO
The first U.S. exchange traded fund (ETF) based on bitcoin futures of the Chicago Mercantile Exchange (CME Group) will begin trading on the New York Stock Exchange (NYSE) on October 19 under the ticker BITO, writes The New York Times.
The publication was informed about this by the ProShares company, which is the issuer of the Bitcoin Strategy ETF.
ProShares CEO Michael Sapir said 2021 will be remembered for the release of the first US exchange traded fund based on Bitcoin futures.
Sapir also noted that the Bitcoin Strategy ETF is a good opportunity for investors to gain access to Bitcoin, without having to cooperate with cryptocurrency exchanges.
On October 16, it became known that the US Securities and Exchange Commission (SEC) approved the country ‘s first exchange-traded fund based on bitcoin futures. This is indicated by the updated prospectus filed by ProShares.
The regulator had 75 days to reject the company’s application or extend its consideration, but it did not take advantage of this opportunity. Various companies have been trying to get SEC approval to launch bitcoin ETF since 2013.
After the news about the approval of the bitcoin ETF in the United States appeared, the cost of the first cryptocurrency for the first time in six months approached $ 63 thousand. As of October 18, bitcoin is trading at $ 60.8 thousand.
