First leveraged BTC futures ETF debut — above average, yet underwhelming
The first leveraged bitcoin futures ETF in the United States experienced higher-than-average trading volumes on its first day, although it fell short in comparison to the milestone bitcoin futures ETF launched in 2021. Volatility Shares’ 2x Bitcoin Strategy ETF (BITX) began trading on the Cboe BZX Exchange on Tuesday. It saw day-one trading volumes of roughly $5.5 million, according to data by FactSet. In terms of day-one volume, the launch ranked 30th of the 195 ETFs so far introduced in 2023, the data indicates. This year, the iShares Climate Conscious & Transition MSCI USA ETF (USCL) and the Xtrackers MSCI USA Climate Action Equity ETF (USCA) emerged as the top performers, with both surpassing $2 billion in opening-day trade volumes. These funds stood out as outliers, as no other ETFs this year have managed to reach $100 million. Despite BITX’s relatively high ranking, its initial volumes were about 0.5% of those seen by the first US ETF to hold bitcoin futures contracts ...