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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