ProShares Bitcoin Strategy ETF debuts as second-most largely traded fund
Updated: 2021-10-20 15:15:03 KST
Wall Street on Tuesday saw the launch of the first exchange traded fund linked to Bitcoin a Bitcoin futures ETF from ProShares, and on its debut it had the second-highest trading volume ever for a brand new fund.
It started trading at 40 dollars a share Tuesday morning under the ticker B-I-T-O, and by the end of the session it was up 4.9 percent.
With turnover of almost a billion dollars, it became the second-most heavily traded fund for a first day of trading behind BlackRock's carbon fund.
During the session, the price of Bitcoin rose almost to a new high, now at a little under 64-thousand dollars.
Other Bitcoin-linked ETFs are expected to launch soon including funds from VanEck and Invesco.