ProShares Bitcoin ETF to debut on NYSE on Oct. 19

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The archetypal Bitcoin futures-linked ETF is yet launching successful the United States aft years of effort.

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ProShares Bitcoin ETF to debut connected  NYSE connected  Oct. 19

The archetypal Bitcoin (BTC) futures-linked exchange-traded money (ETF) successful the United States, ProShares’ Bitcoin Strategy ETF, volition statesman trading connected the New York Stock Exchange (NYSE) connected Oct. 19 nether the ticker BITO.

ProShares CEO Michael Sapir said the motorboat marks an important milestone for cryptocurrency ETFs successful the United States pursuing respective years of effort to database 1 connected an exchange:

“BITO volition proceed the bequest of ETFs that supply investors convenient, liquid entree to an plus class. 1993 is remembered for the archetypal equity ETF, 2002 for the archetypal enslaved ETF, and 2004 for the archetypal golden ETF. 2021 volition beryllium remembered for the archetypal cryptocurrency-linked ETF.”

Sapir went connected to accidental that the Bitcoin ETF’s debut connected NYSE unlocks monolithic vulnerability for investors successful accepted fiscal markets.

“BITO volition unfastened up vulnerability to Bitcoin to a ample conception of investors who person a brokerage relationship and are comfy buying stocks and ETFs, but bash not tendency to spell done the hassle and learning curve of establishing different relationship with a cryptocurrency supplier and creating a Bitcoin wallet oregon are acrophobic that these providers whitethorn beryllium unregulated and taxable to information risks,” helium said.

Related: Grayscale hints astatine plans to person Bitcoin spot into BTC-settled ETF

The quality comes soon aft the U.S. Securities and Exchange Commission (SEC) accepted the registration request for ProShares’ Bitcoin ETF connected Oct. 15. On the aforesaid day, the SEC besides accepted the registration petition for shares of Valkyrie’s Bitcoin Strategy ETF for listing connected Nasdaq.

This communicative is processing and whitethorn beryllium updated.

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