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.
*PROSHARES BITCOIN FUTURES ETF WILL LAUNCH ON NYSE TUESDAY: NYT
— *Walter Bloomberg (@DeItaone) October 18, 2021
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.
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.