BITO First Bitcoin Futures ETF Trades 1 Billion On First Day

  • First bitcoin futures ETF listed in the U.S. amassed over $1 billion in trading volume in its first day of trading.
  • The NYSE-listed ProShares Bitcoin Strategy ETF gained 4.85% from its $40 opening price, closing at $41.94.
  • This was the second-biggest ETF debut of all time in terms of trading volume.

The ProShares Bitcoin Strategy exchange-traded fund (ETF) finished its first day of trading with a little over $1 billion of volume, under the ticker symbol $BITO, ranking as the second-biggest ETF debut of all time. The BlackRock U.S. Carbon Transition Readiness ETF holds the crown as the most significant influx in one day, with a $1,161,734,000 trading volume.

However, Bloomberg ETF analyst Eric Balchunas argues that the $BITO trading volume saw “easily the biggest day-one of any ETF in terms of ‘natural’ volume.” Additionally, he explains, $BITO also traded more than 99.5% of all ETFs, including big names like $DIA, $ARKK, and $SLV.