Skip to content
Subscriber Only

Bitcoin Futures ETF Debuts as Second-Highest Traded Fund Ever

  • More than 24 million shares changed hands on first day
  • Bitcoin climbs within striking distance of April’s record high
Bloomberg business news
What a Bitcoin Futures ETF Means for the Cryptocurrency Market
Updated on

The first Bitcoin-linked exchange-traded fund listed in the U.S. debuted as the second-most heavily traded fund on record in a watershed moment for the crypto industry.  

The ProShares Bitcoin Strategy ETF -- trading under the ticker BITO -- rose about 4.9% to $41.94. More than 24 million shares changed hands Tuesday, according to data compiled by Bloomberg. Because of the way the fund settles trades, net flows into or out of the product probably won’t be known until overnight on Wednesday.