(Bloomberg) -- The letters B-T-C mean Bitcoin to cryptocurrency traders everywhere. But starting Friday, a tiny U.S. bond ETF will begin using them as its ticker symbol, a decision that’s already raising eyebrows in the industry.
The $32 million ClearShares Piton Intermediate Fixed Income exchange-traded fund has traded under the “PIFI” ticker since its debut in October. Now it’s shifting to “BTC,” echoing the three-letter shorthand traders use for the digital money.
Financial markets are yearning for a Bitcoin ETF, and at least eight applications to list them have been filed with the U.S. Securities and Exchange Commission since late December. The ClearShares fund is for now sticking with buying investment-grade corporate bonds, U.S. government agency bonds and Treasuries, according to its website.
ClearShares and the SEC didn’t immediately respond to requests for comment on the planned ticker change.
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