The price of bitcoin jumped over 8% in the last 24 hours after a few documents stemming from the U.S. Securities and Exchange Commission’s (SEC) web portal indicated that the Proshares Trust exchange-traded fund (ETF) could be listed as soon as next week. Proshares filed a post-effective amended prospectus on Friday that shows the firm’s intention to launch on Monday, October 18 on NYSE Arca.
Bitcoin’s price jumped over $62,000.
The crypto community watched the price of bitcoin jump awfully close to the crypto asset’s all-time high on Friday afternoon. The leading cryptocurrency tapped a daily high of $62,945 per unit during the late afternoon trading sessions at around 5:30 p.m (EST). The reason for this increase is likely due to a number of documents filed with the Securities and Exchange Commission (SEC) seeming to indicate a bitcoin ETF is launching soon strongly. SEC has so far maintained that a bitcoin ETF’s possibility is too soon.
Proshares filed a post-effective amended prospectus for its ETF on Friday.
The first signal was from James Seyffart, an analyst at Bloomberg Intelligence who had tweeted about Bloomberg’s data team “adding the Proshares Bitcoin Strategy ETF to the terminal.” Seyffart further added: “[The] ticker will be $BITO. 95 bps — less than half $ GBTC’s 2% fee. This thing is going live next week. Either Monday or Tuesday.” In addition to the analyst’s commentary on Twitter, Proshares filed a post-effective amended prospectus for its ETF on Friday. The amended documents note that the Proshares Bitcoin ETF intends to launch on October 18, 2021, and the filing also notes the ticker will be called “$BITO.”