Slow Start for Third Bitcoin ETF, Lower Costs Could Attract More Capital
The latest bitcoin (BTC) futures exchange-traded fund (ETF) to be launched in the US – the VanEck Bitcoin Strategy ETF (XBTF) – has had a slow start compared to its two earlier competitors, ProShares’ BITO and Valkyrie’s BTF. But lower costs and a stronger brand should attract more capital over the long-term, some analysts argue.
When ProShares launched the first bitcoin futures ETF, BITO, on October 19, it was quickly deemed one of the most successful ETF launches of all time in the US. The fund saw a turnover of almost USD 1bn in the first day of trading, ranking it behind only a BlackRock carbon fund on the list of the most popular ETF launces in the country.
Over the first two days of trading, BITO amassed USD 1.1bn under management - the
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