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Why it could become ‘virtually impossible to dethrone’ ProShares Bitcoin ETF
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After almost a decade of rallying and anticipation, a Bitcoin-linked ETF started trading on the New York Stock Exchange (NYSE) for the very first time. Even as the speculation in the past few weeks leading up to the launch has catapulted the cryptocurrency near a new all-time high, the ProShares BTC Strategy ETF opened to a record-breaking first day in the market.
The ETF with the ticker name $BITO, which is backed by Bitcoin Futures, amassed over $1 billion in trading volume on its first day of trading. It has also ranked as the second-biggest ETF debut of all time, right behind BlackRock U.S. Carbon Transition Readiness ETF, which has the highest one-day influx yet, at $1,161,734,000.
However, Bloomberg ETF analyst Eric Balchunas argued
Read more on ambcrypto.comAbout this in other media
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Bitcoin back in risk-on mode after ETF launch moneycontrol.com /3 years ago
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