ProShares Bitcoin Strategy ETF, BTC/USD, Technical Outlook, Edition #129 (19/10/2021)

Launch countdown initiated 🚀 Will the new ProShares Bitcoin ETF thrust price action out of the stratosphere - or, will it come crashing back down to Earth? Find out Q's perspective now 👇

ProShares Bitcoin ETF prepares to launch, Bitcoin about to embark on a Lunar Voyage?

Bitcoin swings higher as market participants anticipate the long-awaited ProShares ETF (Exchange Traded Fund), which is due to list on the NASDAQ imminently.

According to the ProShares website:

ProShares Bitcoin Strategy ETF (BITO) is the first U.S. bitcoin-linked ETF offering investors an opportunity to gain exposure to bitcoin returns in a convenient, liquid and transparent way. The Fund seeks to provide capital appreciation primarily through managed exposure to bitcoin futures contracts.

For those who missed Q’s explanation of an Exchange Traded Fund (ETF)...

Exchange-Traded Funds (ETFs) are a type of security that follows the performance of a market sector, index, commodity, or some other asset. 

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