ETF fundThe fund, which opened on October 19, allows investors to speculate on the future value of bitcoin without actually owning it. Also see: Bitcoin edges off all-time highAnd the impact on the price of bitcoin has been extraordinary. This is a big change from mid-July 2021, when bitcoin hit a 2021 low of under $30,000, reflecting its huge volatility. Crypto trading on a regulated marketMany financial institutions have previously tried to get approval for bitcoin ETFs without success. 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: The Hindu October 23, 2021 12:32 UTC