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First bitcoin futures ETF to make its debut on the NYSE Tuesday, ProShares says

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This is an ongoing story. Stay tuned for new updates.

Officially, the first exchange-traded bitcoin fund will debut on Tuesday.

ProShares’ eagerly awaited ETF will trade on Tuesday under the ticker BITO’. It will be used to track bitcoin futures markets.

ProShares CEO Michael L. Sapir announced Monday, “We believe that many investors have eagerly awaited the launch of bitcoin-linked ETFs after years of effort to launch one.” BIO will provide bitcoin exposure for large segments of investors who already have a brokerage account, are familiar with buying stocks and ETFs and don’t mind the learning curve and hassle of setting up a second account with a cryptocurrency provider or creating a Bitcoin wallet.

Price of bitcoinAfter rallying to $62,000 on the weekend, the price was at $60,000 Tuesday morning, Coin Metrics reported. This is in anticipation for the ETF.

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