ProShares Bitcoin Futures ETF Rises in Debut

Posted on by American Coins & Gold

ProShares Bitcoin Futures ETF Rises in Debut
Shares of the ProShares Bitcoin Strategy exchange-traded fund, the first bitcoin-related ETF to trade in the U.S., initially rose 3% when trading began and were lately up 1.6% to $40.63 in their debut on Tuesday on the New York Stock Exchange.The fund trades under the symbol BITO and is linked to bitcoin futures that are traded on the Chicago Mercantile Exchange.The U.S. Securities and Exchange Commission (SEC) greenlit bitcoin futures ETFs on Friday.ProShares filed its application for its Bitcoin Strategy ETF this past summer after SEC chair Gary Gensler made clear his preference for a bitcoin fund linked to the…