The first US-based Bitcoin (BTC) futures-linked exchange-traded fund – ProShares’ Bitcoin Strategy ETF – will reportedly be officially listed for trading on the New York Stock Exchange, beginning October 19th. 

Specifically, Michael Sapir – Head of ProShares – reportedly revealed that the introduction of the ProShares Bitcoin ETF, trading under the ticker BITO – will be a significant event in the history of cryptocurrency ETFs in America, after years of efforts invested in making a listing on one of the exchange happen. 

“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.”

Sapir continued sharing, claiming that the Bitcoin ETF’s debut on NYSE will open doors to a gigantic level of exposure to investors in traditional financial markets.

“BITO will open up exposure to Bitcoin to a large segment of investors who have a brokerage account and are comfortable buying stocks and ETFs, but do not desire to go through the hassle and learning curve of establishing another account with a cryptocurrency provider and creating a Bitcoin wallet or are concerned that these providers may be unregulated and subject to security risks,” 

The development reportedly surfaced following the US SEC granting the approval status to the pending registration request for ProShares’ Bitcoin ETF, on October 15th. 

Also on that Friday, the SEC gave a regulatory green light to the registration request for shares of Valkyrie’s Bitcoin Strategy ETF for listing on Nasdaq.