• Written by: John-Paul
• Mon, 18 Oct 2021
•   Russian Federation

ProShares Trust will be the first Bitcoin Futures ETF to market. Yes, $BITO is launching Tuesday not today. https://t.co/G1VlV0P9nd — Eric Balchunas (@EricBalchunas) October 18, 2021 Recommended: It’s Official: Bitcoin Futures ETF Finally Approved By SEC ProShares Trust announced via an SEC filing on Monday that their ProShares Bitcoin Strategy ETF commences trading this Tuesday […] The post ProShares Announces Release Date For Bitcoin Futures ETF appeared first on CryptosRus.

ProShares Announces Release Date For Bitcoin Futures ETF

ProShares Trust will be the first Bitcoin Futures ETF to market.

Yes, $BITO is launching Tuesday not today. https://t.co/G1VlV0P9nd

— Eric Balchunas (@EricBalchunas) October 18, 2021

Recommended: It’s Official: Bitcoin Futures ETF Finally Approved By SEC

ProShares Trust announced via an SEC filing on Monday that their ProShares Bitcoin Strategy ETF commences trading this Tuesday October 19th.

• The fund will trade on NYSE Arca, according to the filing. NYSE Arca is the top exchange for ETFs in the U.S.
• Bloomberg analyst Eric Balchunas is peacocking a bit on the news. Can’t blame him though, considering how much he got right. “We stuck necks out on this one, many didn’t agree (which I get), but we got right: 1. the approval 2. the date 3. the first issuer 4. that they wouldn’t approve many at once NOT BAD.”
• Analysts are seeing increased institutional investment as a result of the approval. “U.S. institutions, in particular, have been fueling the rally as evidenced by activity on the CME and the basis flippening on the CME over the retail-led exchanges,” said Martha Reyes, head of research for Bequant.
• Rumours are swirling around the next ETF to be approved. Some are pointing to digital asset manager Valkyrie.
• As of press time, Bitcoin is near the 62k mark, still below its all-time high of 64k. Many indicators are showing a strong finish to 2021, and not just due to the Bitcoin Futures ETF.

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