VanEck Bitcoin Strategy ETF launch day volume a fraction of BITO's

VanEck Bitcoin Strategy ETF launch day volume a fraction of BITO's


The VanEck Bitcoin Strategy ETF (XBTF) closed its first day of trading on Nov. 16 with “respectable” trading volume, but one that pales in comparison to similar launches.

Bitcoin futures ETFs provide investors exposure to potential future prices of Bitcoin without forcing them to hold any Bitcoin themselves.

At market close on the Chicago Board of Exchange (CBOE), XBTF had accumulated around $9.5 million in assets under management (AUM), and saw around $4.6 million in daily trading volume according to investing.com. This is just a fraction of the first-day trading volume of $1 billion the ProShares Bitcoin Strategy (BITO) enjoyed on Oct. 19 on NYSE. BITO has since reached the top 2% of all ETFs by total trading volume.

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