#BitwiseBitcoinETF The first Bitcoin ETF, ProShares Bitcoin Strategy ETF (BITO), launched on October 19, 2021, marking a significant milestone for cryptocurrency adoption in traditional finance. Unlike spot Bitcoin ETFs, BITO is based on Bitcoin futures, regulated by the SEC and traded on the NYSE. Its debut attracted over $1 billion in assets within days, reflecting strong investor demand. However, criticism arose over its cost and divergence from spot Bitcoin prices. Despite this, it paved the way for broader institutional interest in crypto.