CRYPTO

ProShares Bitcoin-linked ETF launched at NSSE as BTEC price rises above $ 63K

The first Bitcoin (BTC) futures-linked exchange-traded fund in the United States began trading on the New York Stock Exchange, opening at ০ 0. In every part.

According to the New York Stock Exchange, ProShare’s Bitcoin Strategy ETF, the first exchange-traded fund that allows U.S. investors to have direct exposure to cryptocurrency futures, opens at 40. Shares of BITO will reach $ 41.54 at the time of release before rising 3.8% per share. The addition of crypto funds to a major stock exchange follows a decision postponed year after year by the Securities and Exchange Commission, or SEC, the regulator responsible for greenlighting assets.

“Bitcoin will open up to Bitcoin to a large portion of investors who have a brokerage account and are comfortable buying stocks and ETFs, but do not want to go through the hassle and learning curve of establishing another account with a cryptocurrency provider.” Could be uncontrolled and could pose a security risk, ”said Prospers CEO Michael Sapir on Monday.

The SEC first accepted ProShares’ Bitcoin Strategy ETF registration request at the NSSE, before doing the same for shares of Digital Asset Manager Valkiri’s BTC Future ETF to be listed on Nasdaq. Institutional asset manager Greskel announced Monday that it plans to convert its GBTC trust into an ETF in the future. The SEC is currently considering a number of crypto ETF applications.

Mary Beth Buchanan, Global Chief Legal Officer at Merkel Science, a blockchain investigative platform, said, “Processors ETFs will provide greater market access and ease of use for institutional investors.” “The new futures-based ETF will trade on the NYSE and will be more familiar to institutional investors than opening a personal trading account and trading directly on a spot or futures-based cryptocurrency exchange or crypto trading platform.”

Related: Traders celebrate the upcoming ETF of Bitcoin, but the alternative market is less certain

According to Cointelegraph Markets Pro, Bitcoin prices rose 1.2% from S 62,557 to a five-month high of $ 63,293 after shares of ProShares for ETF trading rose.. It marks a return to crypto assets that went above $ 63,000 for the first time since April, when it hit an all-time high of $ 64,863.