VanEck Bitcoin Strategy ETF launch day volume a fraction of BITO's
Lower volumes compared to ProShares were expected, but Van Eck hopes its lower fees can give it an edge over competitors. The VanEck Bitcoin Strategy ETF (XBTF) closed its first day of trading on Nov. 16 with "respectable" trading volume, but one that pales in comparison to similar launches. Bitcoin futures ETFs provide investors exposure to potential future prices of Bitcoin without forcing them to hold any Bitcoin themselves. At market close on the Chicago Board of Exchange (CBOE), XBTF had accumulated around $9.5 million in assets under management (AUM), and saw around $4.6 million in....
Related News
The first bitcoin exchange-traded fund (ETF) launched in the United States and smashed records on Tuesday, capturing close to $1 billion in total volume. Eric Balchunas, the senior ETF analyst for Bloomberg said that the Proshares Bitcoin Strategy ETF (BITO) definitely “defied expectations.”
Proshares Bitcoin ETF Commands Serious Volume
Proshares Bitcoin Strategy exchange-traded fund (BITO) did well on its first day, as it closed the day at 4:00 p.m. (EDT) at $41.94 per unit. Meanwhile, the price of bitcoin (BTC) soared on Tuesday, tapping a high of $64,367 on the....
A slow first day of trading on the short Bitcoin ETF may have been nothing but a slight hiccup in ProShares’ newest product as volumes grew on the second day. The first short Bitcoin ETF from ProShares got off to a very slow start on its June 21 launch but gathered pace by increasing trading volume 380% on day two.On launch day June 21, the ProShares Bitcoin Short Strategy Exchange-Traded Fund (BITI) traded a lackluster 183,300 shares which ETF analyst at Bloomberg Eric Balchunas noted in a tweet was “less than 1% of the volume $BITO had at this time on Day One.”However the next day’s....
While BTIO is going from strength to strength with a total of $1.4 billion worth of inflows since late October, one expert thinks that VanEck’s Bitcoin spot ETF has a 200-1 chance of being approved by the SEC. Since its launch on Oct. 19 Proshares’ Bitcoin futures exchange-traded fund (ETF) has been a popular choice with traders, rising to the top 2% of all ETFs in terms of total trading volume. Bloomberg’s Senior ETF analyst Eric Balchunas noted on Nov. 11 that the ProShares Bitcoin Strategy ETF (BITO) had $400 million worth of shares traded yesterday, with its average volume consistently....
ProShares’ Bitcoin Strategy ETF saw around $1 billion volume on its opening day, with 24.313 million BITO shares changing hands. ProShares’ Bitcoin Strategy exchange-traded fund (BITO) saw the highest ever first day “natural” volume for an ETF, with the figure reaching a little over $1 billion by the end of the opening day.It is second overall, tailing just behind the Blackrock US Carbon Transition Readiness ETF which booked $1.16B in volume on its debut in April. The ProShare’s Bitcoin futures-based ETF launched on the New York Stock Exchange (NYSE) on October 19 with an opening price of....
Crypto enthusiasts and the government have long contended over the Bitcoin ETF. Let’s examine Bitcoin spot vs futures ETFs. How many Bitcoin ETFs are there?There are various companies offering Bitcoin ETFs, and each is available on their own respective exchanges.While the only Bitcoin ETFs in existence are Bitcoin futures ETFs, there are quite a few out there in which one can choose to invest. This article previously mentioned the ProShares BITO Bitcoin futures ETF, which currently holds around $1 billion in investments. BITO is listed on the Chicago Mercantile Exchange (CME). Another....