ProShares’ Bitcoin Strategy ETF will trade on the New York Stock Exchange on October 19 under the ticker BITO.
Michael Sapir, ProShares CEO, said that the launch is an important milestone in cryptocurrency ETFs’s success in America after years of work to list them on an exchange.
“BITO will carry on the legacy of ETFs that offer investors easy, liquid access to an asset type. 1993 will be remembered as the year that saw the debut of an equity ETF. 2002 was the year that saw the debut bond ETF. 2004 is the year that saw the first ETF in gold. 2021 will be remembered for the first cryptocurrency-linked ETF.”
Sapir continued by stating that the Bitcoin ETF’s debut at NYSE opens up massive opportunities for traditional investors in traditional financial markets.
He stated that BIO will allow investors to have exposure to Bitcoin.
Related: Grayscale suggests plans to transform Bitcoin trust into a BTC-settled ETF
This news comes just after the U.S. Securities and Exchange Commission accepted ProShares’ registration request for the Bitcoin ETF on October 15. The SEC accepted the registration request to list shares in Valkyrie’s Bitcoin Strategy ETF on Nasdaq.
This story is still in development and could be updated.
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