The ProShares Bitcoin Strategy exchange-traded fund ended the trading day at US$41.89, 4.72 per cent above its opening price. (The Logic)
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The ProShares Bitcoin Strategy exchange-traded fund ended the trading day at US$41.89, 4.72 per cent above its opening price. (The Logic)
Talking point: Bitcoin ETFs remove many of the barriers to entry for investors, allowing people to easily buy and sell shares through traditional brokerage accounts and add them to retirement portfolios. Canada is a world leader in the space, with three beginning trading in early 2021 and more following. The U.S. Securities and Exchange Commission has rejected a long list of previous Bitcoin ETF applicants. The ProShares ETF invests in Bitcoin futures, rather than holding the cryptocurrency itself like its Canadian competitors. Six would-be U.S. ETF providers had explored the possibility of investing in Canadian funds to gain exposure to physical Bitcoin, but pulled references to this from their filings on Friday, possibly as a condition for regulatory approval, The Globe and Mail reported. The increased legitimacy for Bitcoin has sent its price surging for weeks.
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