First Bitcoin Futures ETF Trades Nearly $1 Billion in One Day

The first-ever Bitcoin ETF has hit the market. And it nearly broke the trading record for any debuting ETF. Read the full article by: Matthew Di Salvo

Key Points:

• Yesterday the first BTC ETF in the United States was launched yesterday on the New York stock exchange and saw a lot of attention.

• The Proshares ETF traded $280 million worth of shares in the first 20 mins after the market opened. For the day it traded a staggering $1 billion worth of shares and closed at 4.85% increase.

• This is the second highest opening day for an ETF in the US since BlackRock got over $1 Billion in trade volume for its “Carbon Transition Readiness” dropped in April.

• “It was not expected. We thought it was going to be a big hit, we thought it was going to be successful,” Bloomberg ETF research analyst James Seyfarrt said. “I thought if it traded $250 million in the first day, it would be a success. It did that in just 30 minutes.”

• The next step investors are looking for is the SEC to approve a true spot market based BTC ETF and we may still be in the dark on that for a bit.