Bitcoin ETF Off to a Great Start, Up 3% First Day of Trading

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ValueWalk

New Bitcoin Investment Vehicle Debuted on Wall Street, With More on the Way Q3 2021 hedge fund letters, conferences and more A newBitcoin-focused exchange-traded fund, ProShares Bitcoin Strategy ETF, debuted on Wall Street. ProShares Bitcoin Strategy ETF will trade in Bitcoin futures contracts that speculate on the future price of Bitcoin as opposed to the cryptocurrency itself. In anticipation of the launch of the ETF, Bitcoin recently jumped 3%. Also, Bitcoin futures increased by 2%. Asset managers estimate that with the introduction of crypto NFTs, particularly with Bitcoin, valuation will …

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