2021-10-20 15:30 |
Proshares Bitcoin Strategy ETF made its trading debut by seeing more than $1 billion worth of shares changing hands. This made BITO the second most traded ETF after a BlackRock carbon fund for its first day of trading.
On Tuesday, the crypto market saw the first Bitcoin-linked ETF, BITO, launching in the US that rose about 5% to $41.94.
This sent the price of Bitcoin to $64,500, up 117% YTD. As of writing, BTC/USD is trading around $64k.
I’m going to guess that this group collectively owns less than one bitcoin https://t.co/UKjIukAtdk
— Barry Silbert (@BarrySilbert) October 19, 2021
Options on BITO will also begin trading on Wednesday on the NYSE Arca and NYSE American Options exchanges. Additionally, the Valkyrie Bitcoin Futures ETF is all set to debut today with its memorable ticker BTFD.
The Bitcoin Futures ETF saw massive demand with more than $250 million recorded in trading volume in just the first 15 minutes and half a million dollars in an hour and a half.
More than 24 million BITO shares changed hands on Tuesday, as per Bloomberg data.
Those looking to trade ProShares Bitcoin Strategy ETF outside of regular US market hours can also do so on Blue Ocean.
$BITO already in the top 30% of ETFs by assets and a near-lock to exceed my $750m by end-of-week estimate.. https://t.co/uJm88w0zx0
— Eric Balchunas (@EricBalchunas) October 19, 2021
On Fidelity, it was the second most traded stock as customers placed 10,104 buy orders and 71,266 sell orders for BITO on its commission-free brokerage platform, said the investment giant.
With very few block trades in BITO, it suggests smaller investors and high-frequency trading firms dominated trading, said Dave Nadig, chief investment officer and director of research at ETF Trends.
“I think what we saw today was retail, HFT algo trading trying to find the arbitrage, and a whole lot of institutions sitting on the sidelines and watching.”
Bitcoin has started October on a bullish note, already up more than 46% in the month so far and crushing all the other crypto and, of course, macro indexes.
While ETH is up 28.5% in October, S&P 500 advanced less than 5% and gold only 2.26%.
ETH 6.75%
Ethereum / USD
ETHUSD
$ 4,070.94
$274.79
6.75%
Volume 19.22 b
Change $274.79
Open $4,070.94
Circulating 118.01 m
Market Cap 480.39 b
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It is clear that this is the season of Bitcoin, with total open interest surging to $25.18 billion, up 70.5% this month.
CME #bitcoin futures open interest is reaching a new all-time-high in $ notional following ETF launch yesterday pic.twitter.com/FGuyNOlkuH
— Coinbase Institutional (@CoinbaseInsto) October 20, 2021
On CME, OI continues to hit new all-time highs, the latest being $4.78 billion, up from just $1.47 billion on Sept. 29, according to Skew.
CME’s OI is now the second-highest after Binance’s $5.66 bln and before FTX’s $4.27 bln.
Bitcoin/USD BTCUSD 66,441.7412 $3,262.29 4.91% Volume 42.05 b Change $3,262.29 Open$66,441.7412 Circulating 18.85 m Market Cap 1.25 t baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=BTC&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~BTC~USD"); The post Massive Retail Demand for First Bitcoin Futures ETF Made its Debut As the 2nd Highest Traded Fund In History first appeared on BitcoinExchangeGuide.Similar to Notcoin - TapSwap on Solana Airdrops In 2024
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