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Bitcoin Tops $60K: Time to Invest in Related ETFs?

1 14 7
18.10.2021

Bitcoin jumped above $60,000 on Oct 15 for the first time since April. The asset hit an all-time high of nearly $65,000 in April on the Coinbase IPO success. However, the winning cryptocurrency then started to lose its appeal.

However, the latest rally came in the wake of the news of the first bitcoin futures ETF in the United States. The bitcoin futures ETF from ProShares will begin trading next week, a rewritten filing from the company indicated late Friday, marking a key moment in the development of the crypto industry in the United States. It will trade under the ticker “BITO.”

Despite the humongous success witnessed lately, regulatory concerns have always been a hurdle for bitcoin. There have been repeated attempts in the past by ETF issuers to bring an exchange-traded-product on the cryptocurrency. But none received the SEC nod. The SEC was seemingly looking for more proof of safety in this trade (read: Bitcoin Matches SPY ETF in 1H: What Lies in 2H of 2021?).

“The Securities and Exchange Commission had not formally approved........

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