This will take effect on Oct. 19, 2021. Launched ProShares Strategy ETF, (BITO).New York Stock Exchange The exchange-traded funds (ETFs) experienced an inflow of nearly 2,000 on its initial day. $1 billion in natural volumeWithin 24 hours, Bitcoin will be available (BTCThe price of the ETF () would hit a record high in U.S. dollar dollars. This comes a week after the U.S. Securities and Exchange Commission allowed the ETF’s application to expire, which effectively gave the okay for the product to move ahead.

The United States has taken a big step in this area, and it is also causing ripples across other markets. If BITO’s first day is as successful, then more investors will likely follow its lead. ETFs can be exposed to Bitcoin futures contracts derivatives, but not Bitcoin. While purists may find this undesirable, it provides a notable degree of insulation for investors from Bitcoin’s inherent volatility. Similar philosophies may be used in similar products on other markets to alleviate the worries that institutional investors have had for many years.