ProShares Bitcoin Futures ETF Set to Start NYSE Trading on Tuesday

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Full article by Jamie Crawley found here.

  • The U.S. Securities and Exchange Commission (SEC) has approved the trading of bitcoin futures exchange traded funds (ETFs) on Friday, clearing the way for several exchange traded funds waiting for approval and listing.

  • ProShares will be the first traded bitcoin futures ETF. The fund provider filed for its Bitcoin Strategy ETF during the summer, and shares will be available for purchase on the New York Stock Exchange tomorrow.

  • Douglas Yones, head of exchange traded products at the NYSE stated that “this is an exciting step but not the last.” While the SEC has only recently approved the trading of funds linked to futures markets, spot-driven ETFs have yet to be approved by the organization.

  • News of the highly anticipated fund has propelled the digital currency giant to price levels not seen since early April. Bitcoin reached a high of $62,900 on Friday after several months of losses during late Q2/Q3 2021.

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