Market Wrap: ProShares Bitcoin ETF Rises in Trading Debut, Sending BTC Higher

Posted on by American Coins & Gold

Market Wrap: ProShares Bitcoin ETF Rises in Trading Debut, Sending BTC Higher
Bitcoin rose to a six-month high at around $63,000 as the ProShares Bitcoin Strategy exchange-traded fund (NYSE: BITO), the first bitcoin-related exchange-traded fund to trade in the U.S., made its debut on Tuesday.BITO ended the trading day up 4.65% at near $41.80 per share. As of 4:02 p.m. ET, shortly after the close of U.S. stock markets on Monday, the ETF’s trading volume had reached 23.9 million shares, worth more than $1 billion based on the closing price, ranking the investment vehicle as one of the top ETF launches in history.Dave Nadig, director of research at ETF Trends, tweeted that…