After much anticipation and demand, the US crypto community is set to have its first taste of Bitcoin ETF as ProShares has announced that it would launch a bitcoin futures exchange-traded fund (ETF) tomorrow, Tuesday, October 19.
Finally, ProShares Bitcoin ETF is to begin trading tomorrow
Towards the end of the previous week, information emerged that the Securities and Exchange Commission was finally loosening its vice-like grip on the approval of a Bitcoin-ETF. This propelled the value of Bitcoin to record highs that were last seen around May.
Per available information, the ProShares Bitcoin Strategy ETF is expected to trade under the $BITO ticker. The fund will majorly trade Bitcoin futures as it is tied to the futures market being traded on the Chicago Mercantile Exchange (CME).
Speaking on the approval of the first crypto-based ETF in the United States, the CEO of ProShares, Michael L Sapir, stated that the listing of his firm would help to bring more people into the crypto industr
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