NYSE Arca files with SEC to list Bitwise Bitcoin ETP Trust

[Tnoy30]

Exchange-traded products with exposure to cryptocurrencies are increasingly gaining ground. NYSE Arca, a subsidiary of the New York Stock Exchange (NYSE) Group, wants to list and operate a trust based on Bitcoin (BTC) exchange-traded products (ETP).

In a rule-change proposal with the United States Securities and Exchange Commission, NYSE Arca proposed to list shares of the Bitwise Bitcoin ETP Trust.

The proposal clarifies that each share of the trust will be represented by fixed “units of undivided beneficial ownership,” allowing the shares on the stock exchange to reciprocate their value in accordance with Bitcoin’s market price. NYSE Arca files with SEC to list Bitwise Bitcoin ETP Trust