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On October 19, the first Bitcoin ETF, approved by the U.S. Securities and Exchange Commission (SEC) went live on NYSE (New York Stock Exchange). The product is presented by ProShares and allows futures-based trading. It trades under the ticker "BITO".
Congratulations to CEO Michael L. Sapir and the entire ProShares team on today’s launch of the first U.S. Bitcoin-Linked ETF $BITO #HomeofETFs #Bitcoin pic.twitter.com/ykIJQln2ed
— NYSE 🏛 (@NYSE) October 19, 2021
On its debut day, over 24 million shares of the product were acquired, worth over $1 B. Currently, BITO shares trade at $41.94. The price has increased by around 4.8% in a day.
Along with this, Bitcoin price saw its highest daily close of $64.200 on Tuesday. Currently, the coin trades at $63.800 with a market cap of about $1.2 T. The total crypto market cap is more than $2.52 trillion.
The next company supposed to get the SEC's approval is Valkyrie Investments. Valkyrie filed for a Bitcoin futures-based ETF in August.
On Oct. 15, the SEC announced accepting a registration request for Valkyrie's BTC Strategy ETF for Nasdaq listing. On the same day, Nasdaq's VP Eun Ah Choi said via a letter that the product is listed on Nasdaq and the exchange is waiting for the SEC's approval to start trading.