ProShare’s Bitcoin-linked exchange-traded fund will officially make its debut on the New York Stock Exchange on Tuesday, CNBC reported.

  • The ETF will track the Bitcoin futures market and will be traded under the ticker “BITO,” allowing investors with a brokerage account to have exposure to the biggest digital token.
  • Token Metrics Chief Executive Officer Ian Balina said the latest development is the biggest endorsement from the Securities and Exchange Commission for cryptocurrencies, which could open a floodgate of new capital.
  • At least 10 asset managers have applied for the license to spot Bitcoin ETFs but were all rejected by the corporate regulator, which was then headed by Jay Clayton. 

SEC Chair Gary Gensler in August said he favors products that involve futures, which drove in Bitcoin futures ETF applications. BTC is up 1.97%.