First Bitcoin ETF Gets US Approval!

Published October 19th, 2021 - 07:54 GMT
First Bitcoin ETF Gets US Approval!
The ProShares first futures-based bitcoin exchange-traded fund (ETF) which will track Bitcoin futures will be listed as It'll list as "BITO," the company said. (Shutterstock)
Highlights
In a milestone for the cryptocurrency industry.

The first American ETF by ProShares, an exchange trading company, will get listed on the New York Stock Exchange after getting the green light from the US regulator SEC.

The ProShares first futures-based bitcoin exchange-traded fund (ETF) which will track Bitcoin futures will be listed as It'll list as "BITO," the company said.

ETF

ProShares CEO Michael Sapir commented this on a milestone for the cryptocurrency industry in a statement: "BITO will open up exposure to bitcoin to a large segment of investors who have a brokerage account and are comfortable buying stocks and ETFs, but do not desire to go through the hassle and learning curve of establishing another account with a cryptocurrency provider,"

This will make it the fourth ETF to get the greenlight EVER as back in February The Canadian Ontario Securities Commission (OSC) announced the approval of three Bitcoin exchange-traded funds (ETF).

At time of writing, Bitcoin is trading $62,203 rising up 0.73% as the news broke.


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