The approval of the spot Bitcoin exchange-traded fund (ETF) has led to record-breaking Bitcoin futures ETFs.
The US Securities and Exchange Commission (SEC)’s approval of spot Bitcoin ETF applications on January 10 also benefited future Bitcoin ETFs.
According to data ProShares, VanEck And Valkyrie Bitcoin ETF futures volumes including funds on January 11ththe highest level of all time to 2 billion dollars reached. This development, which occurred on the futures side of the spot Bitcoin ETFs on the first trading day, aroused curiosity.
The 2 billion dollar volume in question to $1.97 billion ProShares Bitcoin Strategy ETF (BITO) managed to dominate the market by hosting ProShares Bitcoin Strategy ETF, First Bitcoin ETF product in the US, launching in 2021 had happened.
About subject in the statement Bloomberg ETF analyst Eric balchunaspredicted that this volume in BITO could continue for a while:
BITO broke the all-time volume record with $2 billion in transactions on this historic day. Maybe some of this is redemption, but I think more BITO liquidity will serve its purpose on mkt maker for a while.
On the other hand, the favorite of spot Bitcoin ETFs BlackRock’s iShares Bitcoin Trust ETF, on the first trading day $1.05 billion By reaching volume, it managed to exceed BITO’s first-day bitcoin ETF volume of $1 billion in 2021.
ProShares global investment strategist Simeon Hyman in a recent statement to The Block. BITO offers a unique alternative to investors he stated.