The US SEC has accepted registration of the ProShares Bitcoin Strategy ETF for trading on the NYSEArca exchange.

By a notice on Form 8-A dated October 15 the US SEC has notified registration of the ProShares Bitcoin Strategy ETF for trading on the NYSEArca Exchange. The notice referred to a post-effective amendment number 238 filed on the same date by ProShares in Form N-1A that states the approximate date of the proposed public offering as October 18, 2021. (Coin Telegraph)

Bloomberg analyst James Seyffart said in a tweet:

“Bloomberg’s data team is in the process of adding the ProShares Bitcoin Strategy ETF to the terminal. Ticker will be $BITO. 95 bps — less than half $GBTC’s 2% fee. This thing is going live next week. Either Monday or Tuesday.”

The ProShares Bitcoin Strategy ETF will invest primarily in bitcoin futures contracts.

Bitcoin price

The imminent possibility of a bitcoin ETF available for trading as early as this has sent bitcoin soaring. At the time of writing, the leading crypto is trading at $61,784.13, up 1.63% over 24 hours and close to its April all-time high of $64,985.

However, there has been speculation that the long-awaited event, when it materializes, might well trigger a sell-off based on “buy-the-rumor-sell-the-fact.”

Dan Morehead, CEO & co-chief investment officer of Pantera Capital wrote recently about two heavily anticipated crypto-related events that precipitated sell-offs.

These were the listing of the CME bitcoin futures and Coinbase’s (NASDAQ: COIN) direct listing on the Nasdaq.

“Will someone please remind me the day before the bitcoin ETF officially launches? I might want to take some chips off the table,” wrote Morehead.

Update (08:02 am ET)

ProShares and the NYSE have confirmed to The New York Times that the ProShares Bitcoin Strategy ETF will start trading on the NYSE tomorrow.

“2021 will be remembered for this milestone,” said Michael Sapir, C.E.O. of ProShares.

Related Story: Bitcoin Spikes In Anticipation Of SEC’s Clearance Of Bitcoin ETF