Proshares Bitcoin-futures ETF starts trading in watershed moment

Meanwhile, the price of Bitcoin has been rising in anticipation

After years of delays and setbacks, the first Bitcoin-linked exchange-traded fund in the U.S., the ProShares Bitcoin Strategy ETF, made its debut Tuesday, marking a watershed moment for the crypto industry. 
 

The fund -- trading under the ticker BITO -- rose about 3% to $41.25 as of 9:33 a.m. in New York. It has been long-awaited by both the crypto community and investors on Wall Street, many of whom have argued for years that a Bitcoin-centric exchange-traded fund has been overdue. The ProShares fund is based on futures contracts and was filed under mutual fund rules that SEC Chairman Gary