The Securities and Exchange Commission (SEC) has approved the first Bitcoin ETF. The proposed date for the listing is Monday, according to the new filing, but that doesn’t necessarily mean that’s when it will begin trading. That could come later in the week. Anticipation had been building for a bitcoin futures ETF after SEC Chairman Gary Gensler earlier this year said he supported such a structure, which he argues offers more investor protections than an ETF that is tied directly to physical bitcoin. The ProShares Bitcoin Strategy ETF, which will give exposure to bitcoin futures contracts but not the spot market, will trade under the ticker “BITO.” This is a huge step forward for the crypto community and the stock market as community.
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