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First Bitcoin ETF Opens Up, CME Futures Spike Higher
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cryptonews.comThe first exchange-traded fund (ETF) backed by bitcoin (BTC) futures contracts went live today on the NYSE Arca exchange. And judging from the first few minutes of trading, the new ETF received a warm welcome in the market.
Launched by ETF issuer ProShares, the ETF with the ticker BITO went live today at 09:30 EDT (13:30 UTC), with representatives from ProShares ringing the opening bell at the New York Stock Exchange.
As the market opened, the ETF immediately shot up in price, rising by almost 1.4% within the first five minutes of trading. The first recorded trade for the ETF was made at a price of USD 40.99 per share, with the price rising above USD 42 before reversing to the downside.
Worth noting is also that the bitcoin futures contracts
Read more on cryptonews.comAbout this in other media
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