Bitcoin ETF Opens For Trading On Tuesday!
Bitcoin ETF opens for trading on Tuesday! According to the New York Times, the first Bitcoin exchange-traded fund will begin trading.
The approval of the ETF to be issued by ProShares will not be announced by the US capital markets regulator SEC, but it is stated that there is no objection regarding the date of the ETF.
Douglas Yones, Director of Exchange Products at the New York Stock Exchange, said, “This is an exciting step, but it won’t be the last.” Yones said he expects a number of more crypto-linked exchange-traded funds to receive approval after the initial launch.
The launch of these ETFs is the result of a nearly 10-year campaign by the $6.7 trillion ETF industry. Supporters of these investment vehicles have been waiting for such an official confirmation since twin brothers Cameron and Tyler Winklevoss, known for suing Facebook Inc. for allegedly stealing their ideas, filed the first application for a Bitcoin ETF in 2013, as confirmation of the widespread adoption of cryptocurrencies.