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A Bitcoin ETF is about to launch. Here’s what you need to know

This Tuesday, the first U.S. bitcoin exchange-traded fund (ETF) is set to be launched, ending around six years of demand and anticipation. Assuming nothing goes wrong, ProShares’ ETF will begin trading on NYSE Arca under the ticker $BITO.
But it’s not entirely straightforward. This ETF will focus on bitcoin futures as opposed to holding spot bitcoin, which is a little different. And just because it will go live, doesn’t mean it will necessarily be available to everyone. We take a look at some of the main questions surrounding the swathe of bitcoin ETFs that have been proposed in the U.S.
What’s the difference between a futures ETF and a spot ETF?
With Gary Gensler at the helm of the Securities and Exchange Commission (SEC), it appears to have decided that a bitcoin futures ETF should go ahead — as opposed to one based on spot trading. And there are some key differences between the two.
With a spot ETF, the value of the ETF will closely track the spot price of the underly

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