quick take

  • Eric Balchunas Bloomberg senior ETF analysts have highlighted BITX as one of the most successful Bitcoin ETF launches in 2023.
  • BITX is a leveraged Bitcoin futures ETF that offers 2x exposure to BTC through futures contracts launched on June 27th.
  • BITX had $5.5 million in trading volume on its first day, with over $500,000 traded in the first 15 minutes.
  • Despite this, the most successful ETF remains BITO, the first Bitcoin futures ETF, and has significantly outperformed BITX.
  • BITO achieved approximately 200 times the trading volume of BITX, which equates to a staggering $1 billion trading volume.
  • However, it is important to note that BITX launched in a bear market while BITO debuted in a bull market in 2021.
  • By contrast, the most successful ETFs launched in the US $2 billion in April of this year.
  • moreover, 100 latest ETFs Launched in 2023, only VFLO, GJUN and HCMT had a higher total trading volume than BITX at debut.
start date symbol fund name stock price assets Volume Transaction amount
June 22, 2023 Ho Chi Minh City Direcion HCM Tactical Enhanced US ETF 25.2 15.32 million 4,970,928 $125,267,386
June 16, 2023 Gyujun FT Cboe Best US Equity Moderated Buffer ETF – June 29.84 545,541 $16,278,943
June 21, 2023 VFLOMore VictoryShares Free Cash Flow ETF April 25th 17.64 million 200,302 $5,015,562
May 18, 2023 chat Round Hill Generative AI & Technology ETF 28.67 80.03M 104,711 $3,002,064
March 31, 2023 DCMB Double Line Commercial Real Estate ETF 50.43 26.00M 51,685 $2,606,475
June 20, 2023 clip Global X 1-3 Month Treasury Note ETF March 25th 10.25 million 50,003 $1,251,575
May 10, 2023 NVDY YieldMax NVDA Options Income Strategy ETF 23.32 16.41 million 52,237 $1,218,167

Accessing ETF Volume Data Inventory analysis

BITX: (Source: Bloomberg)
BITX: (Source: Bloomberg)

The story of BITX hitting $5.5 million in trading volume on its opening day first appeared on CryptoSlate.

By Jules

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