ProShares’ bitcoin (BTC) exchange-traded fund will begin trading on the New York Stock Exchange (NYSE) on Tuesday, the New York Times reported.
The fund, which will offer investors the opportunity to enter the cryptocurrency market without buying crypto directly, will invest in bitcoin futures contracts traded on the CME.
Establishment of the US Securities and Exchange Commission (SEC) not to object The fund, which received the green light as a result, will be the country’s first exchange-traded fund linked to cryptocurrencies.
ProShares submitted the application for the Bitcoin Strategy ETF in August. Fund to bitcoin will not invest directly.