First Day Bitcoin (BTC) ETF went particularly well: Never before has an ETF seen such high volume!

Yesterday, the first US bitcoin (BTC) was exchange traded fund (ETF) launched. The stock fund came in with a big bang. No other ETF saw such high trading volume on day one as ProShare’s BITO fund.

BITO’s trading volume stood at just above $1 billion on its first day yesterday. If we compare this with how other ETFs performed on their first day, we see that this bitcoin ETF has finished in the top. Looking at the ‘natural’ trading volume, we see that no other ETF has performed as well as the BITO fund.

Bloomberg’s Eric Balchunas shared the numbers on Twitter yesterday, explaining exactly what natural trading volume means:

“If we don’t exclude ETFs where their Day One volume was literally a pre-planned giant investor or BYOA (not of course), the bitcoin ETF is still #2 overall. Here’s that list. The reason some of these should not be included in my opinion is that they don’t really represent grassroots interest.”

Bitcoin ETF one of the greats?

All in all, about $570 million flowed into the fund yesterday. ProShare’s bitcoin ETF seems to be one of the greats with this. Of the ETFs based on a single commodity gold leads the way with inflows of $3.01 billion in the first year after launch, followed by silver with inflows of $1.73 billion. BITO therefore seems to be well on its way to establish itself in this list.

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The bitcoin price ticked last night, partly due to the positive sentiment from the performance of the ETF, a high from $64,500 to. That’s only a few hundred dollars away from the all time high (ATH) at $64,800. Bitcoin dropped slightly during the night, with trading volume also decreasing. Will we still see the ATH broken today?

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