The fund, which opened on October 19, allows investors to speculate on the future value of bitcoin – without actually owning it. This is a big change from mid-July 2021 when bitcoin hit a 2021 low of under USD 30,000, reflecting its huge volatility. Many financial institutions have previously tried to get approval for bitcoin ETFs without success. ETFs trade like any normal stock, are regulated, and anyone with a brokerage account can trade them. Several other ETF providers are likely to launch their bitcoin ETFs in the days following ProShares’ debut, including Invesco, VanEck, Valkyrie and Galaxy Digital.

Source: Mint October 23, 2021 16:19 UTC