ProShares’ Bitcoin Strategy exchange-traded fund (BITO) saw the highest ever first day “natural” volume for an ETF, with the figure reaching a little over $1 billion by the end of the opening day.
It is second overall, tailing just behind the Blackrock US Carbon Transition Readiness ETF which booked $1.16B in volume on its debut in April.
The ProShare’s Bitcoin futures-based ETF launched on the New York Stock Exchange (NYSE) on October 19 with an opening price of $40.88. According to data from TradingView, BITO closed the day at $41.94 with a total of 24.313 million shares changing hands, equating to a first-day volume of just over $1 billion.
Commenting on the BITO’s opening day performance, Bloomberg’s senior ETF analyst Eric Balchunas tweeted that ProShares’ ETF was arguably the largest in terms of “natural” or “grassroots interest.”