The first Bitcoin (Bitcoin) The US futures-linked exchange-traded fund (ETF) ProShares’ Bitcoin strategy ETF will begin trading on the New York Stock Exchange (NYSE) on October 19 under the ticker symbol BITO.
Michael Sapir, CEO of ProShares Said After years of hard work to be listed on the exchange, this launch marks an important milestone for the U.S. cryptocurrency ETF:
“BITO will continue the tradition of ETFs and provide investors with convenient and liquid asset classes. In 1993, it was the first stock ETF, in 2002 it was the first bond ETF, and in 2004 it was the first gold ETF. It will be the first gold ETF in 2021. The first ETF linked to cryptocurrency is remembered.”
Sapir went on to state that the debut of Bitcoin ETFs on the New York Stock Exchange opened up a lot of exposure to investors in traditional financial markets.
“BITO will open up Bitcoin exposure to most investors who have a brokerage account and are happy to buy stocks and ETFs, but don’t want to go through the hassle and learning curve of setting up another account at a cryptocurrency provider and creating a new account. Bitcoin wallets Or worry that these providers may not be regulated and face security risks,” he said.
The news was released shortly after the U.S. Securities and Exchange Commission (SEC) issued Accept registration request On October 15, ProShares’ Bitcoin ETF. Valkyrie’s Bitcoin Strategy ETF Listed on NASDAQ.
This story is under development and may be updated.