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A bitcoin futures exchange-traded fund, a type of financial instrument, made its debut on the New York Stock Exchange on Tuesday.
The leading digital currency bitcoin (BTC) has been on a tear during the last few weeks as it has continuously gained value week over week. It’s safe to say that September wasn’t the greatest month for BTC, and October was a complete reversal.

Throughout bitcoin’s lifetime, traditionally the last three months of the year are notable times when BTC sees significant gains. 23 hours ago, on October 19, the notorious bitcoin analyst Plan B tweeted a checkmark after BTC tapped $63K on Tuesday, because of the prediction he made on June 20..

Bitcoin may be the King of Crypto, but many traders are turning their interests to other hot cryptocurrencies like Ethereum, Binance and Dogecoin.
Ethereum beat Bitcoin when it rose more than 400% in 2021, breaking the $4,000 price.
Binance coin has become the world’s third largest crypto, increasing more than 20% in May of 2021.
Dogecoin’s price rose 118% in one week to become worth nearly $90 billion.

Prior to the launch of the Proshares Bitcoin Strategy ETF (BITO), open interest in bitcoin futures products has been surging since the start of the month, according to data from the Coinbase Institutional arm Skew Analytics. Binance and FTX command the lion’s share of bitcoin futures’ open interest with 40.67% of the market. Moreover, data from bybt.com’s bitcoin futures’ open interest metrics, shows the Chicago Mercantile Exchange (CME) commands 15.54% of all the open interest in bitcoin futures tallied this week.
On Tuesday, October 19, 2021, the first exchange-traded fund based on bitcoin futures was launched in the United States. So far, Proshares Bitcoin Strategy ETF (BITO) is trading above the ETF’s initial value when the opening bell kick-started trading.

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