BITCOIN

Bitcoin Futures ETF has a record day


Below is an excerpt from the latest issue of Bitcoin Magazine’s premium market newsletter, Deep Dive. Be one of the first to receive this insight and other on-chain bitcoin market analysis directly into your inbox, Subscribe now.

S ProShares Bitcoin Future ETF under BITO Ticker hit the market yesterday for a significant moment in the history of Bitcoin. With Bitcoin’s price hovering around $ 64,000, it has proven to be not a “news sell” type event, well below its previous all-time high.

The fund traded $ 280 million worth of shares in the first 20 minutes, placing it among the all-time top-15 opening day launches. The current level of all-day transactions has settled at around $ 993 million.

On the same day, Barry Silbert and Grayscale filed for their Grayscale Bitcoin Trust Vehicle (GBTC) to convert $ 41.4 billion (valued at $ 64,000) into a bitcoin spot ETF. Although a Bitcoin spot ETF would be a better vehicle for Bitcoin exposure than a Future ETF, Gary Gensler of the US Securities and Exchange Commission (SEC) reaffirmed his support for the Future ETFs registered under the Investment Companies Act of 1940. And coming up with oversight “provides protection to critical investors,” he said.



Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button