Bitcoin ETF To Start Trading Today

ProShares, an exchange trading company, will be listing an ETF that tracks Bitcoin futures on the NYSE today.

Ok, so what's the value proposition for this? Why not just buy Bitcoin on Binance directly? Well, for investors who have their own brokerage accounts like SAXO or Interactive Brokers and want to get exposure to crypto without opening an account on Binance or Bittrex or one of the other ETFs, this will allow you to do so.

It is kind of silly, I know. Opening an account at one of the CEXs is so much easier than a traditional brokerage, but baby steps, I suppose.

Another important point to note is that this is a futures ETF meaning that technically, people are speculating on the price direction movements of Bitcoin rather than getting exposure to Bitcoin itself. The fund isn't buying and holding Bitcoin.

Still, it is a move in the positive direction and hopefully, we get to see a true Bitcoin ETF by the end of the year.

Will check out later if I can access the symbol 'BITO' later from my traditional brokerage accounts tonight.