The first Bitcoin (BTC) futures-linked exchange-traded fund in the U.s.a., ProShares' Bitcoin Strategy ETF, will brainstorm trading on the New York Stock Exchange on Tuesday under the ticker BITO.

ProShares CEO Michael Sapir said the launch marks an important milestone for cryptocurrency ETFs in the U.S. following several years of endeavour to list 1 on an exchange:

"BITO will go along the legacy of ETFs that provide investors user-friendly, liquid access to an asset form. 1993 is remembered for the commencement disinterestedness ETF, 2002 for the first bail ETF, and 2004 for the offset aureate ETF. 2022 volition be remembered for the first cryptocurrency-linked ETF."

Sapir went on to say that the Bitcoin ETF'southward debut on NYSE unlocks massive exposure for investors in traditional financial markets.

"BITO will open upwards exposure to Bitcoin to a large segment of investors who have a brokerage business relationship and are comfortable buying stocks and ETFs, just do not desire to go through the hassle and learning curve of establishing another account with a cryptocurrency provider and creating a Bitcoin wallet or are concerned that these providers may be unregulated and subject to security risks," he said.

The news comes before long subsequently the U.S. Securities and Exchange Commission accepted the registration asking for ProShares' Bitcoin ETF on Fri. On the aforementioned day, the SEC also accepted the registration request for shares of Valkyrie's Bitcoin Strategy ETF for listing on Nasdaq.

Related: Grayscale hints at plans to convert Bitcoin trust into BTC-settled ETF

On Oct. 5, the SEC also approved Volt Crypto Manufacture Revolution and Tech ETF, a crypto ETF linked to companies with Bitcoin exposure, including firms like MicroStrategy and Tesla.

"Though it isn't holding the actual coin, it doesn't look like a coin-based ETF will be coming out this year either," Volt Equity CEO Tad Park told Cointelegraph. "The next approvals will probably be futures based ETFs which likewise aim for bitcoin exposure, but they come with their own set of problems that isn't in a coin-based ETF.".

Amid positive Bitcoin ETF news in the U.Due south., Bitcoin's price has surged effectually xxx% over the by 14 days, crossing $60,000 on Fri for the first fourth dimension since April. At the time of writing, Bitcoin is trading at $61,692, up around 1.iii% over the past 24 hours, according to data from CoinGecko.