First U.S. futures-based bitcoin ETF begins trading, bitcoin nears record

Published by
Reuters

By John McCrank and Tom Wilson NEW YORK/LONDON (Reuters) -The first U.S. bitcoin futures-based exchange-traded fund began trading on Tuesday, sending bitcoin to a six-month high and within striking distance of its all-time peak, as traders bet the ETF could boost investment flows into cryptocurrencies. The ProShares Bitcoin Strategy ETF began trading on Intercontinental Exchange Inc’s NYSE Arca on Tuesday under the ticker BITO after being greenlighted by the U.S. Securities and Exchange Commission. Bitcoin futures have been overseen by the Commodity Futures Trading Commission for four years an…

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