Bitcoin vs. Ethereum: Which Is a Better Buy?
UPDATE 4-U.S. futures-based bitcoin ETF rises in first day of trading, bitcoin nears record
The ProShares Bitcoin Strategy ETF closed up 2.59% at $41.94 in its first day of trading, with around $1 billion worth of shares trading hands on Intercontinental Exchange Inc’s NYSE Arca exchange under the ticker BITO. The greenlighting of the ETF by the U.S. Securities and Exchange Commission was seen as a watershed moment for cryptocurrencies and helped push the price of bitcoin as high as $64,367.14, its highest level since mid-April and near its record of $64,895.22. Bitcoin, the world’s largest cryptocurrency, is notoriously volatile, and has risen around 45% this month on hopes that the advent of U.S. bitcoin ETFs – several of which are in the works – will spur billions of dollars managed by pension funds and other large investors to flow into the sector.