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U.S. Welcomes First Ever Bitcoin ETF, ProShares Bitcoin ETF Launch Date Confirmed, BTC ETF Coming On NYSE On Tuesday, Oct 19th

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According to the title shared by the Bloomberg Terminal Twitter account, on Tuesday, October 19, ProShares will launch the first long-expected Bitcoin futures ETF with the ticker BITO. The data has been confirmed by The New York Times.

Read: Grayscale Plans To Convert Their Bitcoin Trust Into A BTC Spot ETF


 

ProShares also confirmed it will launch its bitcoin futures-tied exchange-traded fund (ETF) tomorrow, October 19.

The launch of the ETF that will hold Bitcoin futures but not BTC itself will finally launch after a 75-day review by the US SEC regulatory agency spearheaded by Gary Gensler.

Read Details: SEC Tacitly Approves First Bitcoin Futures ETF

The news that the ETF just may be approved was published last week. However, it has been confirmed now.

 

The flagship cryptocurrency, Bitcoin, soared on the expectation of this ETF launch and reached a half-a-year high of $62,944 on Friday and earlier today it traded slightly lower – at $62,288 per coin.

Read: Unchained Capital CEO, Parker Lewis: “Bitcoin Futures ETF Carries Additional Risks For Investors”

Thus, BTC is inching close to its April all-time high of $64,895.

Last week, CNBC’s Jim Cramer stated that this week four Bitcoin ETFs are expected to get SEC approval. If at least one of them is launched, he believes, then Bitcoin is likely to reach a short-term peak or even “a real peak”. He stated that if the launch happens, he may even cash out half of his Ethereum stash.

Read: Latest Bloomberg Report Suggesting SEC Isn’t Likely To Block Bitcoin Futures ETF Plus SEC Tweet Regarding Bitcoin Futures Takes BTC Above $60K

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Albert
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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