BITX records $5.5M in trade volume on launch day

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 DateSymbolFund NameStock PriceAssetsVolumeValue Traded
Jun 22, 2023HCMTDirexion HCM Tactical Enhanced US ETF25.215.32M4,970,928$125,267,386
Jun 16, 2023GJUNFT Cboe Vest U.S. Equity Moderate Buffer ETF – June29.84545,541$16,278,943
Jun 21, 2023VFLOVictoryShares Free Cash Flow ETF25.0417.64M200,302$5,015,562
May 18, 2023CHATRoundhill Generative AI & Technology ETF28.6780.03M104,711$3,002,064
Mar 31, 2023DCMBDoubleLine Commercial Real Estate ETF50.4326.00M51,685$2,606,475
Jun 20, 2023CLIPGlobal X 1-3 Month T-Bill ETF25.0310.25M50,003$1,251,575
May 10, 2023NVDYYieldMax NVDA Option Income Strategy ETF23.3216.41M52,237$1,218,167

ETF volume data accessed via StockAnalysis

BITX: (Source: Bloomberg)
BITX: (Source: Bloomberg)

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