Bitcoin’s Coming Out Party

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The first-ever bitcoin futures ETF launched yesterday, offering a new way for investors to jump on the bitcoin train.

The ProShares Bitcoin Strategy ETF (BITO) jumped 3% when trading began Tuesday, and it continued to do well throughout the day.

Investors were hoping for a fund that tracks physical bitcoin, but the Proshares Bitcoin ETF website states: “The fund seeks to provide capital appreciation primarily through managed exposure to bitcoin futures contracts. The fund does not invest directly in bitcoin.”

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