Bitcoin broke the $60,000 price barrier over the weekend for the first time since April.
That price movement was chalked up to the expectation thatthe SEC would greenlight a Bitcoin futures exchange-traded fund.
On Monday, that expecation became a reality.
It’ll list as “BITO,” the company said.
It’s been a tumultuous year for the cryptocurrency.
In July, Bitcoin briefly fell below $30,000.
For instance, you could commit to buying a 1 Bitcoin for $100,000 in 5 years.
If the price of a Bitcoin on that date is $200,000, you’d have made money.
If the price of a Bitcoin on that date is $50,000, you’d have lost money.
A futures ETF is notably different from a standard exchange-traded fund, which Bitcoin enthusiasts have been lobbying for.
Bitcoin’s current price is up 8% from this time last week.
Ethereum,which is the most widely used cryptocurrency, is up 6.5% from a week ago.
