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Bitcoin

The First Ever Bitcoin Futures ETF in the USA to Debut on Tuesday

by Miki 10/18/2021
by Miki 10/18/2021 0 comment

The first-ever Bitcoin ETF from ProShares is all set to debut on New York Stock Exchange (NYSE) on Tuesday. The Bitcoin Strategy ETF that tracks the price of the Bitcoin Futures market would be the first of its kind to get the approval of the United States Securities and Exchange Commission (SEC) after years of speculation and rejections. The ticker symbol for the ProShares Bitcoin ETF would be $BITO.

“2021 will be remembered for this milestone, as $BITO would offer “convenient access to Bitcoin in a wrapper that has market integrity,” said Michael Sapir, the C.E.O. of ProShares

*PROSHARES BITCOIN FUTURES ETF WILL LAUNCH ON NYSE TUESDAY: NYT

— *Walter Bloomberg (@DeItaone) October 18, 2021

ProShares became the first firm to get the SEC nod marking the historic movement. 2021 has proven to be the year of Bitcoin as not just retail and institutional investors joined on the Bitcoin bandwagon, but several nations including the likes of El Salvador and Paraguay also legalized the use of Bitcoin in their country.

As for the Bitcoin ETF, SEC chief Gary Gensler has earlier hinted that a Futures market-based ETF has a better chance at getting a regulatory nod than those that hold Bitcoin directly. Following this statement, several asset managers including VanEck, ProShare, Widom Tree, and several others rushed to file for  Bitcoin Strategic ETF. ETF analysts now predict that a spot ETF won’t be far behind and the SEC might approve one by the first quarter of 2022.

Bitcoin ETF Opens a New Chapter For Crypto Adoption

The approval of the first Bitcoin ETF in the US opens the gates for compliance focuses investors to invest in digital assets securely. Although Europe and North America have already approved some form of crypto ETFs, many believe the approval by the US would change the future of digital assets as the ETF market is at least 7X bigger in comparison.

While the approval of the first-ever Bitcoin ETF is being rejoiced by many, several Bitcoin proponents believe SEC knowingly approved a Futures ETF rather than a spot one as it gives more power to them to control the market.



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The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

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      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
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      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

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      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

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      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

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      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

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