At 10 a.m. on the New York Stock Exchange, the Bitcoin Strategy ETF (BITO, for its label) was up 3.13% and stood at $ 41.25 a share, above its reference value of $ 40. prior to listing, according to market data.
The executives of ProShares, the firm that has launched the financial product, were present today at the traditional New York parquet bell ringing, applauding from the balcony and celebrating what they have considered a “milestone” for this sector.
ProShares CEO Michael L Sapir noted Monday that BITO will mark a “milestone for ETFs” and is especially interesting because it saves investors “the hassle” of creating a bitcoin portfolio at a cryptocurrency provider for those who are concerned about its regulation and risk.
“We believe that a multitude of investors have been looking forward to the launch of a Bitcoin-linked ETF after years of efforts to launch it.”added the executive of this company, which offers a wide variety of index funds since 2006.
The US regulator has been reluctant for years to approve any index fund related to Bitcoin due to doubts about its transparency, and the difference is that this new product does not invest directly in the cryptocurrency but in the futures contracts associated with it.
Bitcoin, which has been rising in recent days due to expectation, surpassed $ 63,000 this morning, closing the gap with its maximum of almost 65,000. Since the beginning of the year, it has appreciated more than 110%.
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