The price of Bitcoin rose higher than $60,000 over the weekend - just a few thousands shy of its historical peak in early April 2021, when Coinbase went public. That noted, the SEC and its chairman Gary Gensler is on record saying 'we just don't have enough investor protection in crypto finance, issuance, trading, or lending.' The SEC green-lighting this ETF marks an important, though modest, step for mainstream acceptance of Bitcoin as an asset class. Before launching the fund, the company said the ETF had net assets of $20 million and that shares would begin trading at $40. ProShares said that investors will be able to buy shares of ProShares Bitcoin Strategy ETF starting Tuesday.
'The SEC isn't ready yet to approve an exchange-traded ETF that holds actual Bitcoins.' Can I buy a share of the ETF today - and how much does it cost? Smith, financial risk expert and author of The Risk Rituals newsletter. 'The new Bitcoin ETF will not hold any actual Bitcoins but will rather model the price of Bitcoin using futures contracts and other short-term financial instruments,' said Dr.
