ProShares Bitcoin ETF to debut on NYSE on Oct. 19

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The primary Bitcoin (BTC) futures-linked exchange-traded fund (ETF) in the US, ProShares’ Bitcoin Technique ETF, will start buying and selling on the New York Inventory Change (NYSE) on Oct. 19 underneath the ticker BITO.

ProShares CEO Michael Sapir stated the launch marks an essential milestone for cryptocurrency ETFs in the US following a number of years of effort to checklist one on an alternate:

“BITO will proceed the legacy of ETFs that present traders handy, liquid entry to an asset class. 1993 is remembered for the primary fairness ETF, 2002 for the primary bond ETF, and 2004 for the primary gold ETF. 2021 might be remembered for the primary cryptocurrency-linked ETF.”

Sapir went on to say that the Bitcoin ETF’s debut on NYSE unlocks huge publicity for traders in conventional monetary markets.

“BITO will open up publicity to Bitcoin to a big section of traders who’ve a brokerage account and are snug shopping for shares and ETFs, however don’t want to undergo the trouble and studying curve of building one other account with a cryptocurrency supplier and making a Bitcoin pockets or are involved that these suppliers could also be unregulated and topic to safety dangers,” he stated.

Associated: Grayscale hints at plans to transform Bitcoin belief into BTC-settled ETF

The information comes shortly after the U.S. Securities and Change Fee (SEC) accepted the registration request for ProShares’ Bitcoin ETF on Oct. 15. On the identical day, the SEC additionally accepted the registration request for shares of Valkyrie’s Bitcoin Technique ETF for itemizing on Nasdaq.

This story is growing and could also be up to date.