ETF listing-what’s next for Bitcoin?

After falling below $30,000 in June, Bitcoin (Bitcoin) After a nearly four-month rebound, the value has appreciated by more than 100%. On Friday, it regained the $60,000 level after the close by a surge of 7.56%. The subsequent rebound was attributed to the excitement of the US Securities and Exchange Commission giving the green light to the ProShares Bitcoin Futures Exchange Traded Fund (ETF). Since then, Bitcoin has successfully defended its current price level and is getting closer and closer to its highest historical valuation of $64,899.

Listing of ProShares Bitcoin Strategy ETF on Tuesday It is believed to provide an additional impetus for the legitimacy of Bitcoin and cryptocurrencies to become mainstream. However, a key fact about the new Bitcoin ETF is that it does not invest directly in Bitcoin, but allocates part of its assets to BTC futures contracts.


ProShares Bitcoin Strategy ETF is listed as “BITO” on the New York Stock Exchange and is the first of its kind. Some people believe that this ETF has been brewing for 10 years because several Bitcoin ETFs were either blocked by the US Securities and Exchange Commission. Completely blocked by the committee, or SEC.

WisdomTree and VanEck’s Bitcoin ETF are some high-profile applications that are still in a state of uncertainty. ProShares was approved because of a special difference: ProShares Bitcoin ETF is a futures-based ETF, and it also complies with mutual fund rules.

U.S. Securities and Exchange Commission like This structure is due to its lack of jurisdiction over cryptocurrency trading venues that are not registered as exchanges in the United States.