Bitcoin nears all-time high as US futures ETF lists

Bitcoin hit a six-month high and was within striking distance of its all-time peak on Tuesday as traders bet the listing of the first bitcoin futures-based US exchange-traded fund could herald investment flows into cryptocurrencies.

The ProShares Bitcoin Strategy ETF on NYSE Arca, owned by Intercontinental Exchange Inc, was listed on Tuesday under the ticker BITO.

That followed the end of a 75-day period in which the US Securities and Exchange Commission could object to the listing.

The new ProShares ETF opened at $40.88 and was last at $41.64. ETFs are securities that track an asset and can be bought or sold on a stock exchange. Analysts said the ETF would likely simplify access to cryptocurrencies for retail investors.