Financial markets are readying for the expected launch of the first U.S. Bitcoin futures ETF on Tuesday. The ProShares Bitcoin ETF (BITO) is meeting with no obstructions from regulators in advance of a deadline Monday for them to raise objections. According to The New York Times, the New York Stock Exchange is therefore preparing to list the fund on Tuesday, as the firm and the exchange told DealBook. Bitcoin fans have long been waiting for the approval of exchange traded funds that can hold crypto assets. The U.S. Securities and Exchange Commission has yet to authorize ETFs that directly hold Bitcoin (BTC-USD) or other cryptocurrencies. However, the ProShares Bitcoin Strategy ETF (BITO) appears poised to become the first U.S. ETF authorized to hold Bitcoin futures. Other ETF firms are waiting for approval to launch similar funds. Grayscale Investments now intends on filing a submission to convert GrayScale Bitcoin Trust (OTC:GBTC)
