Shares of the newly registered ProShares Bitcoin Strategy ETF ended its first day on the NYSE at $41.94 Tuesday, up 2.59% from the $40.88 opening share price.
ProShares became the first Bitcoin-focused exchange-traded fund (ETF) to trade on the NYSE Tuesday, after the US Securities & Exchange Commission failed to block its registration on the world’s largest stock exchange by market capitalisation. Proshares Bitcoin ETF, which hold Bitcoin futures, saw 24.2m trades Tuesday.
Also, Grayscale Investors, the largest digital currency investor, announced plans Tuesday to register its $40bn fund over the NYSE.
Bitcoin near all-time high
Bitcoin rose steadily throughout the day, trading over $63,000 to $63,676 as of 5:00 pm EDT, according to Coindesk. Bitcoin’s all-time high is just over $64,800, depending on the reporting exchange.
MicroStrateg, however – the largest corporate Bitcoin holder, with over 108,990 in Bitcoins as of 24 August – traded up to 5.56% lower, as investors are now offered an additional, ETF-wrapped, option for Bitcoin exposure. MicroStrategy shares opened at $742.25 before dipping to a $701.01 session low, closing at a $7,627.25 share price, down 2.02% on the day.