Over the last seven days, the two largest cryptocurrencies by market capitalization, Bitcoin and Ethereum, grew 13% and 9% respectively, amid news that a Bitcoin futures exchange-traded fund (ETF) had been approved by the United States Securities and Exchange Commission.
Bitcoin is currently worth $61,606, just $3,000 shy of its former all-time high of $64,863, set on April 14 this year. The number one cryptocurrency recrossed the $60k threshold after a Bloomberg report on Thursday evening said the SEC was “poised to allow” the first Bitcoin futures ETF to begin trading.
Several hours later, ProShares, an American provider of ETFs, filed an amended prospectus confirming that it has been green-lit to begin trading a Bitcoin futures ETF on Monday. This news is a milestone in the steady institutional adoption of cryptocurrencies across the US.
Bitcoin futures ETFs are investment products that track the price of Bitcoin futures that trade on regulated exchanges. Shares in Bitcoin
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