Investors will be able to gain exposure to bitcoin through the fund, without direct exposure to the volatile currency that traded over $62,000 over the weekend alongside this and other pro-crypto news. On Tuesday morning, the ProShares ETF went live under the ticker BITO at around $40.
Gensler said his biggest worry about the equity market was competition and consolidation. While retail investing has taken off, the PFOF that enables it is ripe for conflict of interest.
It's not a new thing. PFOF has been a contentious issue for more than 30 years. But, with the rise of feeless retail trading options since 2018, PFOF is back in the news.