First bitcoin futures ETF in US set to begin trading

The first bitcoin futures exchange-traded fund (ETF) in the U.S. is set to begin trading next week, an amended filing from ProShares said Friday.

The ProShares Bitcoin Strategy ETF had a proposed listing date for Monday under the ticker “BITO,” CNBC reported. 

Although the proposed date is Monday, trading might not begin until later in the week.

The Securities and Exchange Commission (SEC) has not formally approved the bitcoin futures ETF. There might never be a formal approval, but it still is allowed to be traded.

The ETF will be allowed to be traded next week as long as there are no complaints from the regulator, a person familiar with the SEC decision told the outlet. 

New York Stock Exchange Arca certified “its approval for listing” on Friday, with the price of bitcoin rising over the past week due to the anticipated approval. 

The approval is a milestone for cryptocurrency as other companies have applied to launch their own ETFs.