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Bitcoin

Bitcoin Futures ETF by ProShares Broke Many Records on First Day, Here’s Everything To Know

by Miki 10/20/2021
by Miki 10/20/2021 0 comment

The first-ever Bitcoin Futures ETF by ProShares made its debut in the US on Tuesday on the New York Stock Exchange (NYSE) after months of speculations. The numbers and volumes that the $BITO ETF did on the first day surpassed many people’s expectations and created many new records. Let’s take a look at some of the mind-boggling numbers that $BITO put up on the first day of trade. Each $BITO share was priced at $40

Over $1 Billion in Trading Volume

The ProShares $BITO registered a trading volume of near $1 billion, making it the most successful ETF on debut. This goes on to prove what crypto proponents have been claiming all along, a US-based ETF would easily surpass the combined total of the rest of the Bitcoin ETFs trading around the world.

Bitcoin ETF

The first-ever Bitcoin ETF in Canada took weeks to reach $1 billion dollars in trading volume. This is primarily because the US ETF market is at least 7X larger than the rest of the world. Eric Balchunas, the prominent Bloomberg ETF analyst deemed the opening day of ProShares as the second-highest opening in the ETF market ever. He said,

“If we don’t exclude ETFs where their Day One volume was literally one pre-planned giant investor or BYOA (not natural), it still ranks #2 overall. Here’s that list. The reason some of these shouldn’t be included IMO is they don’t really represent grassroots interest.”

Bitcoin ETF

ProShares Bitcoin ETF Registered $550 Million in Asset Inflow

Apart from record trading volume on the first day which saw the $BITO ETF take the second spot in the ETF history, ProShares also revealed a massive $550 million in inflows on the first day. ProShares started with $20 million in seed fund and ended the day with $570 million in assets.

Bitcoin ETF
Source: ProShares

The opening day not only proved to be a great success for the first-ever Bitcoin ETF but also set a benchmark that could become quite difficult to get past. On the other Bitcoin ($BTC) price also flirted near ATHs as it closed the highest daily candle in history at $64,453 just about $400 short from ATH.

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The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

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      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

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