First fund linked to bitcoin futures debuts on NYSE

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AFP

New York (AFP) – Bitcoin took another step closer to mainstream investing Tuesday with the launch of a new security on Wall Street tied to futures of the cryptocurrency. To mark the occasion, ProShares, leader in exchange-traded funds, a type of investment linked to an index, rang the opening bell of the New York Stock Exchange on Tuesday. The Bitcoin Strategy ETF, trading under the “BITO” ticker, rose 3.1 percent to $41.03 in its first session, an eagerly-anticipated event in the world of crypto-money that boosted bitcoin futures. Unlike mutual funds, which are traded only once a day, ETFs ca…

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