BITO, the first Bitcoin-linked exchange-traded fund (ETF), started trading on the New York Stock Exchange. Immediately after the opening of the New York Stock Exchange, BITO It is up 5%, and Bitcoin is up 2%.
According to major foreign media such as Business Insider on the 19th (local time), the Bitcoin futures ETF BITO launched by ProShares started trading on the New York Stock Exchange from this day.
BITO is a Bitcoin futures ETF that tracks Bitcoin futures traded on the Chicago Mercantile Exchange (CME). As the first Bitcoin-linked ETF approved by the US Stock Exchange (SEC) for launch, it has received great attention even before the start of trading.
According to the report, as of 9:37 a.m. on the same day, the stock price of BITO rose 5% to $41.9.
As of 9:34 p.m., the Bitcoin price is trading at $62,725 (about 73.92 million won), up about 2% compared to just before the BITO transaction.
The launch of the Bitcoin Futures ETF is expected to be a boon for the cryptocurrency industry as a whole. With the launch of the Bitcoin Futures ETF, the Bitcoin investor base has expanded and the possibility of launching more various cryptocurrency-linked ETFs in the future has increased.
However, Bitcoin Futures ETF after release bitcoin Whether the price will rise further remains to be seen. see. already ETF launch Possibility With certainty, expectations are rising in the price of Bitcoin. Pre-recorded, Bitcoin not in kind As an ETF linked to futures, it directly drives the price. Because there is a limit to upload.
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“Bitcoin prices will rise, but demand for futures ETFs will not be a direct cause of the increase,” said Jodie Gunzberg, head of CoinDeskIndex. “In terms of Bitcoin and cryptocurrency adoption, the launch of futures ETFs is seen as a step forward that can drive demand, but futures prices will not drive spot prices as futures prices are spot-based and not vice versa.” did.
Chris Brendler, an analyst at financial ratings firm DA Davidson, told CNBC that “I don’t expect the introduction of futures ETFs to have as much impact on price as the Bitcoin spot ETF.”
