Following the launch of the first Bitcoin ETF on the NYSE, the world’s number one cryptocurrency reaches a new absolute record, shattering the one reached last April of 64,899 dollars. The virtual currency has exceeded the threshold of 66 thousand dollars, with a jump of 3%, and records a value of $ 66,035.01.
Bito, the ETF based on futures and not on direct cryptocurrency
The record was expected, as the valuation of the leading cryptocurrency had hovered around $ 64,000 for several hours. ProShares Bitcoin Strategy Etf (also called Bito) on its second day, Wednesday 20 October, earn 3% – at $ 43.16 – after the + 4.85% ($ 41.94) of the first day. This instrument offers millions of US investors exposure to Bitcoin futures contracts, namely a those contracts that give the holder the opportunity to buy or sell the asset at a future date at a set price, rather than direct exposure to cryptocurrency.
A new ETF on the way
According to Eric Balchunas, Bloomberg analyst, in the next few days, after receiving the ok to be traded on the Nasdaq last week, another ETF could be launched, the Valkyrie Bitcoin Strategy. It will also be based on futures rather than the underlying cryptocurrency with annual operating expenses of 0.95%.