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First U.S. SEC approval! ProShares Inc. goes public : Begins handling ETFs (Exchange Traded Funds) linked to Bitcoin futures.

Below are some notes to explain to business people.
Why do you need new money when you are doing an art project (NFT) related to virtual currency? The question is asked.
In fact, money also needs diversity. To begin with, there are many varieties of money in different countries, and the value of money is adjusted by exchange rates when it crosses between countries.
Didn’t you collect bell marks when you were a child? Even that is an education-related donation currency. In a sense, frequent flyer miles and points are also creating an economic sphere within that world.
The government has provided emergency support grants to save shopping malls from the Corona disaster, and in the Yokosuka shopping mall, premium gift certificates of about 2.5 billion yen (500 million yen for the premium portion) are issued at one time, and they sell out. The company is also
Money is generated when a need is aroused.
The explanatory blog is below.
◆[Your questions answered! In the cashless era, who is making the money?
Now, the virtual currency bitcoin (BTC) has reached an all-time high of 7.59 million yen per BTC. (October 20, 2021)
This is due to the listing of mutual fund ProShares (ProShares, founded in 2006) on the NYSE Arca exchange (the first electronic stock exchange in the U.S., approved in 1997). (October 19)
ProShares, Inc. is an ETF (short for Exchange Traded Funds, which is an exchange-traded fund) linked to bitcoin futures. mutual funds) that are listed on stock exchanges. The company is making a splash by becoming the first bitcoin ETF to have its listing application approved by the U.S. Securities and Exchange Commission (SEC).
Bitcoin itself becomes easier to invest in for investors who find it risky. Bitcoin is easy to buy directly, but its SEC approval and listing on the Arca Exchange has elevated it to a currency that is largely accepted by society.
Michael Sapir, CEO of ProShares, emphasized the significance of the listing, saying, “It provides an opportunity for many investors who have accounts with brokerage firms and are used to buying stocks and ETFs to invest in bitcoin. It allows investors to invest in virtual currency linked to its price without having a wallet (electronic wallet) to invest in it like physical virtual currency.
Trading in the product, the ProShares Bitcoin Strategy ETF (BITO), was 24.1 million contracts for $1 billion ($113 billion) on the first day of trading, the highest level of offering for an ETF. The share price closed at $41.94, up 4.9% from $40 at the start of trading. The first day of trading volume is said to be one of the top two or three highest in history.
Dave Nadig, Chief Investment Officer and Director of Research at ETF Trends, said, “It appears that most of the trading was done by individual investors. We saw very few large ‘block’ trades like large institutional investors would do,” he said.
If institutional investors start buying ETFs in the future, there are high expectations that the inflow of funds into bitcoin will further expand. Growing global inflation fears are also said to be one of the reasons why bitcoin is being bought.
Inflation is a phenomenon in which the price of goods goes up (the value of money goes down), and bitcoin, which has a cap on the amount of coins issued, is considered to be an inflation-resistant asset, meaning that its value is unlikely to decrease.
The maximum number of bitcoins to be issued is set at 21 million, a limit that has been in place since bitcoin’s creation in 2009. This limit has been in place since Bitcoin was created in 2009. The reason is that the digital currency can continue to be created indefinitely or it will become scarce and quickly become diluted in value.
Hey. Isn’t it interesting?
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