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First US Bitcoin ETF a 'dud' in 2021 as GBTC discount stays near record lows
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Bitcoin (BTC) institutional demand is conspicuously wanting at the end of the year as data flags the "underperformance" of the United States' first Bitcoin futures exchange-traded fund (ETF).
As noted by markets commentator Holger Zschaepitz on Dec. 29, the ProShares Bitcoin Strategy ETF (BITO) is now trading at nearly 30% below its launch price.
In a sign of the times regarding Bitcoin sentiment, the hype that accompanied BITO's launch in Q3 has died down considerably.
Going from record-breaking volume on its first day to its current state, the ETF has even underperformed the embattled Bitcoin spot price in 2021.
"The first Bitcoin futures ETF in the US was a dud, at least this year," Zschaepitz commented.
Meanwhile, as Cointelegraph reported,
Read more on cointelegraph.comAbout this in other media
Torus Kling Blockchain to launch India’s first cryptocurrency, Ethereum ETF cnbctv18.com /2 years ago
Indian INX exchange reportedly plans to list Bitcoin futures ETF cointelegraph.com /2 years ago
Asia's first crypto ETF on the cards, to be launched in India by Torus Kling blockchain moneycontrol.com /2 years ago
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