Categories: Market

Bitcoin exceeds $ 64,000 on the first day of Bitcoin ETF trading

The first Bitcoin ETF was listed on the NYSE Arca on October 19, marking a major milestone in the digital currency industry.

Proshares Bitcoin Strategy ETF – the first Bitcoin futures-based ETF in the US – began trading with the ticker BITO on October 19. On its first day of trading, the fund certificate rose 4.9% to USD 41.94. More than 24 million BITO fund certificates changed hands on October 19, according to Bloomberg.

With a trading value of almost USD 1 billion, according to statistics from Athanasios Psarofagis, BITO is the second most heavily traded fund certificate after the BlackRock fund.

News on the Proshares Bitcoin Strategy ETF pushed Bitcoin to an all-time high above $ 64,000 as traders bet that the Bitcoin ETF could attract inflows into the crypto market.

“From discussions with market participants, it appears that the upward momentum is related to confidence in the cryptocurrency market as the first Bitcoin ETF has a successful public offering,” said Stephane Ouellet, General Manager at FRNT Financial.

Vu Hao (according to Bloomberg)

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.