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Options on ProShares Bitcoin ETF to Start Trading Today

News
Wed, 10/20/2021 - 14:10
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Yuri Molchan
After half-billion debut of recently approved Bitcoin ETF, options trading on it will kick off today
Options on ProShares Bitcoin ETF to Start Trading Today
Cover image via stock.adobe.com

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According to the Bloomberg article, after the Bitcoin Strategy ETF (BITO) launched by ProShares ETF provider on the NYSE on Tuesday became the second-most-traded ETF on the Fidelity platform, options on this ETF will begin trading today, Oct. 20.

Now, crypto bulls and bears will be able to bet on Bitcoin ETF-based derivatives on NYSE Arca Options platform and NYSE American Options platform.

Bloomberg's chief ETF analyst, Eric Balchunas, believes that in this case options are of huge importance. He has compared Bitcoin ETF options in the U.S. to YOLO ETF (a cannabis ETF by AdvisorShares).

Related
Bitcoin Market Cap Hits New All-Time High as BTC Remains 2.2% Off Its April ATH

On the first trading day, the Bitcoin ETF closed at around $570 million, pushing the Bitcoin price above the $634,000 level by now, making it move close to its April all-time high of $64,800.

Many are expecting the leading crypto to set a new ATH soon.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.