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And just like that… investors have a pure bitcoin futures exchange-traded fund.

After months of kicking in at the Securities and Exchange Commission, regulators finally pulled the trigger, approving the ProShares Bitcoin Strategy ETF, which began trading Tuesday.

anchorthe protectionThe lastChangeChange %
bitoProShares Trust Bitcoin Strategy ETF39.51-1.32-3.23%
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ProShares Global Investment Strategist Simeon Hyman said during a “Belts and Suspenders approach to the regulated futures market and a regulatory ETF really provides a robust solution for investors and one they can just put into their brokerage account, the stock.” Do business like that.” Granthshala Business’ interview on ‘The Clammon Countdown’.

Bitcoin price reaches all-time high

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A few days before the launch of ProShares, WisdomTree’s Enhanced Commodity Strategy Fund increased the ETF by adding a 3% allocation to cash-settled bitcoin futures traded on the Chicago Mercantile Exchange, giving investors little crypto mixed with the commodity.

Billionaire Peter Thiel Regrets Bitcoin

anchorthe protectionThe lastChangeChange %
gccWisdomTree Trust Enhanced Commodity Strategy21.33+0.05+0.23%

“It invests in a wide range of different commodities from gold to livestock to oil and is focused on a really broad commodity exposure,” WisdomTree General Counsel Ryan Louvre told Granthshala Business. This will lead to further discrimination.”

WisdomTree, among the first to file a bitcoin ETF application with the SEC, is expected to WisdomTree’s Bitcoin Trust You will get the green signal.

VanEck, another firm that files with the SEC, indicated that approval is imminent, without disclosing the timing.

Ed Lopez, Head of ETF Product at VanEck, said in a statement to Granthshala Business, “VanEck is excited to offer the long-awaited bitcoin exchange-traded product to the US market.” “We were the first asset manager to file for a bitcoin futures ETF in 2017, and we are offering what will be the most competitively priced ETF in this category when we hit the market.”

The buzz surrounding the ETF space drove bitcoin price to a new all-time high of $66,974 before pulling back. So far this year, the largest cryptocurrency by market cap is up 110%, as tracked by CoinDesk.