Home Bitcoin News Trading of options on Bitcoin-ETF ProShares starts today

Trading of options on Bitcoin-ETF ProShares starts today

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Crypto News

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After the Bitcoin Strategy (BITO) ETF, launched on Tuesday by ProShares on the NYSE, became the second most popular ETF on the Fidelity platform, options trading on it will begin on October 20.

Here’s a new way to leverage Bitcoin https://t.co/fE9XWGnLvx via @crypto

— Bloomberg Crypto (@crypto) October 20, 2021

Now crypto bulls and bears will be able to bet on derivatives based on bitcoin ETFs on the NYSE Arca Options and NYSE American Options platform.

Eric Balchunas, Bloomberg’s chief ETF analyst, believes that options are of great importance in this case. He compared the bitcoin ETF options in the US with the YOLO ETF (cannabis ETF from AdvisorShares).

Trading of options on Bitcoin ETF ProShares starts today

On the first trading day, the bitcoin ETF closed at around $ 570 million, as a result of which the bitcoin price exceeded the level of $63,400. To date, it has set a new record high at $67,276.

Many market participants expect that the leading cryptocurrency will soon break through the $70,000 level.

This is the moment of truth,” says Jesse Proudman, co-founder and chief executive officer of Makara crypto consulting company.

The question of whether this asset class will continue to exist is no longer worth it. This is a really significant mark in the history of the expanded class of digital assets.




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