America’s first ever Bitcoin ETF went live at 3:30 PM. Despite this historic moment, we still see relatively little price action on the BTC chart.
A stable opening for BITO
Despite the relative calm, we saw a price spike when the ProShares Bitcoin ETF ($BITO) went live on the New York Stock Exchange. BITO opened at a price just below USD 40 and quickly reached a high of USD 42.09 before consolidating.
The solid go-live is a positive sign, according to analysts. It takes away the fear that there would be a classic ‘Buy the rumor, sell the news’ event. So far this doesn’t seem to be happening.