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Fast Take
Eric Balchunas, Senior ETF Analyst for Bloomberg, has highlighted BITX as some of the profitable Bitcoin ETF launches of 2023.
BITX is a leveraged Bitcoin Futures ETF that gives 2x publicity to BTC by futures contracts launched on June 27.
On its first day, BITX noticed a buying and selling quantity of $5.5 million and traded over $500,000 within the first quarter-hour of launch.
Regardless of this, probably the most profitable ETF stays BITO, the primary Bitcoin Futures ETF, which managed to considerably outpace BITX.
BITO achieved roughly 200 occasions the buying and selling quantity of BITX, translating to an astonishing buying and selling quantity of roughly $1 billion.
Nevertheless, it’s related to notice that BITX launched inside a bear market, whereas BITO debuted throughout a bull market in 2021.
In distinction, probably the most profitable ETF to launch within the U.S. was USCA which debuted with $2 billion in April this yr.
Additional, of the 100 latest ETFs launched in 2023, solely VFLO, GJUN, and HCMT have a better worth traded in complete than BITX on its debut.
Inception Date
Image
Fund Identify
Inventory Value
Belongings
Quantity
Worth 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. Fairness Average Buffer ETF – June
29.84
–
545,541
$16,278,943
Jun 21, 2023
VFLO
VictoryShares Free Money Circulate ETF
25.04
17.64M
200,302
$5,015,562
Might 18, 2023
CHAT
Roundhill Generative AI & Know-how ETF
28.67
80.03M
104,711
$3,002,064
Mar 31, 2023
DCMB
DoubleLine Business Actual Property ETF
50.43
26.00M
51,685
$2,606,475
Jun 20, 2023
CLIP
International X 1-3 Month T-Invoice ETF
25.03
10.25M
50,003
$1,251,575
Might 10, 2023
NVDY
YieldMax NVDA Choice Earnings Technique ETF
23.32
16.41M
52,237
$1,218,167
ETF quantity knowledge accessed through StockAnalysis
The publish BITX data $5.5M in commerce quantity on launch day appeared first on CryptoSlate.
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