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

[Tamsialu$$]

The first-ever Bitcoin ETF has hit the market. And it nearly broke the trading record for any debuting ETF. The first U.S. Bitcoin futures ETF launched today, and eager investors traded $280 million-worth of shares in just the first 20 minutes. By the time the market closed on Tuesday, nearly $1 billion in shares changed hands.

ProShares’ Bitcoin Strategy ETF launched today on Wall Street after receiving approval from the U.S. Securities and Exchange Commission on Friday. Trading under the ticker BITO on the New York Stock Exchange, investors wanting exposure to the biggest cryptocurrency were able to buy shares tied to the future price of Bitcoin, which rose to $42.15 at one point—a 5.4% up from the initial net asset value of $40. Its closing price was $41.94, an increase of 4.85%.more