Quick Take Eric Balchunas, Senior ETF Analyst for Bloomberg, has highlighted BITX as one of the most successful Bitcoin ETF launches of 2023. BITX is a leveraged Bitcoin Futures ETF that provides 2x exposure to BTC through futures contracts launched on June 27. On its first day, BITX saw a trading volume of $5.5 million and traded over $500,000 in the first 15 minutes of launch. Despite this, the most successful ETF remains BITO, the first Bitcoin Futures ETF, which managed to significantly outpace BITX. BITO achieved approximately 200 times the trading volume of BITX, translating to an astonishing trading volume of roughly $1 billion. However, it’s relevant to note that BITX launched within a bear market, while BITO debuted during a bull market in 2021. In contrast, the most successful ETF to launch in the U.S. was USCA which debuted with $2 billion in April this year. Further, of the 100 newest ETFs launched in 2023, only VFLO, GJUN, and HCMT have a higher value traded in total than BITX on its debut. Inception Date Symbol Fund Name Stock Price Assets Volume Value Traded Jun 22, 2023 HCMT Direxion HCM Tactical Enhanced US ETF 25.2 15.32M 4,970,928 $125,267,386 Jun 16, 2023 GJUN FT Cboe Vest U.S. Equity Moderate Buffer ETF – June 29.84 – 545,541 $16,278,943 Jun 21, 2023 VFLO VictoryShares Free Cash Flow ETF 25.04 17.64M 200,302 $5,015,562 May 18, 2023 CHAT Roundhill Generative AI & Technology ETF 28.67 80.03M 104,711 $3,002,064 Mar 31, 2023 DCMB DoubleLine Commercial Real Estate ETF 50.43 26.00M 51,685 $2,606,475 Jun 20, 2023 CLIP Global X 1-3 Month T-Bill ETF 25.03 10.25M 50,003 $1,251,575 May 10, 2023 NVDY YieldMax NVDA Option Income Strategy ETF 23.32 16.41M 52,237 $1,218,167

ETF volume data accessed via StockAnalysis

The post BITX records $5.5M in trade volume on launch day appeared first on CryptoSlate.

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