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ProShares’ futures-based Bitcoin exchange-traded fund (ETF), the first of its kind in the U.S., will begin trading on the New York Stock Exchange (NYSE) on Tuesday, the company said in a press release on 18 October.

According to the announcement, the new Bitcoin ETF — which is linked to BTC futures traded on the Chicago Mercantile Exchange — will be listed on NYSE on 19 October under the ticker “BITO”. While ProShares filed its application for the “Bitcoin Strategy ETF” this summer, the U.S. Securities and Exchange Commission (SEC) accepted the registration request on Friday. The CEO of ProShares, Michael L. Sapir, said in a statement:

“BITO will continue the legacy of ETFs that provide investors convenient, liquid access to an asset class. 1993 is remembered for the first equity ETF, 2002 for the first bond ETF, and 2004 for the first gold ETF. 2021 will be remembered for the first cryptocurrency-linked ETF.”

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The new ETF will provide investors who do not wish to create an account with a cryptocurrency provider, or own a BTC wallet, with exposure to the world’s largest crypto asset by market value. A large segment of investors who previously wished to trade BTC, but were concerned that many of the platforms were unregulated and subject to security risks, can now do so safely on the NYSE.

ProShares, however, are not the only ones that received the SEC’s approval for a BTC-linked ETF. Also on Friday, the regulator approved the application of Valkyrie’s Bitcoin Strategy ETF, which will be listed on NASDAQ. The SEC Chairman, Gary Gensler, had previously stated that funds linked to the futures market, rather than the underlying asset, were more likely to win regulatory approval.

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