ProShares Bitcoin ETF made one of the best debuts in terms of trading activity on the exchange, almost reaching the $1 billion mark ($994 million). The only one ahead of him is BlackRock (LCTU), whose first trading session ended at over $1.16 billion.

On the day of the start of the Bitcoin Strategy ETF from ProShares, the number of BITO shares that passed from hand to hand exceeded 24.313 million units, and the first session ended for the company on a positive note of 4.9% and $41.94. At a certain point, the shares managed to rise to $42.15, which is 5.4% more than the starting price, and Bitcoin supported the positive mood of investors, stepping over the level of $64,000 on Binance. Today the asset has adjusted its price to the current level of $63,900.

Bloomberg analyst Eric Balchunas said that BITO managed to outperform other funds in terms of “natural” volume, not taking into account the initial capital provided in advance by large investors. The efficiency of the ProShares fund, according to the analyst, surpassed competitors by 99.5%, which he considered an extremely worthy result. Taking into account the exclusively “natural” demand of investors, ProShares, according to Balchunas, became the most successful among the “colleagues”.

Shortly after the launch of the first Bitcoin-ETF, the SEC chairman once again emphasized his confidence in the form of the future of the BTC-ETF as opposed to the spot one. But the famous bitcoin critic and a big fan of gold, Peter Schiff, decided that the adoption of the BTC-ETF by the US Securities and Exchange Commission was a clear reason for the "abolition" of the financial regulator. In response, he received the expected dose of criticism, including from the creator of Microsoft Ventures Rahul Sood, who said that "gold ETFs" included tons of counterfeit precious metal, calling the market a "disaster."

The high-profile debut from ProShares also resulted in increased interest in Bitcoin options from investors. The aggregate value of contracts for them on major exchanges exceeded $14 billion, reaching the highs for the first time since April 2021, and almost surpassing the peak value of $14.68 billion, reached on March 24, 2021.

Now, with bated breath, investors expect a continuation of the positive trend for ETF adoption from Valkyrie, whose review deadline is set for October 25, 2021. Will it be able to surpass the success of ProShares, or will it go back to the SEC's box of “pending decisions”, we will know very soon.

If you decide to try your hand at the world of cryptocurrencies, do it with a trusted and reliable partner - BINANCE

CoinShark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources. Cryptocurrency is a high-risk asset, investments in it can lead to losses. Readers should do their own research before taking any action.

Bitsler Casino