Bitcoin ETF Had Its First Trading Day

The Bitcoin ETF had its first trading day. The ProShares Bitcoin Strategy ETF has started trading on the world's largest stock exchange, the New York Stock Exchange (NYSE).

Shares of the ETF reached record volumes after the stock market's opening bell rang. While the transaction volume of 250 million dollars was exceeded in just 15 minutes, as of 17.12 TSI, when the news was written, 360 million dollars were also exceeded. With these volumes, the ETF is stated to be in the top 15 of all time on the first trading day. With the opening of the ETF, the price of Bitcoin exceeded $ 63 thousand and went up to $ 63 thousand 278. The ProShares Bitcoin Strategy ETF does not invest directly in Bitcoin. Instead, the ETF is based on Bitcoin futures contracts traded on the CME. While it is said that the SEC does not currently favor an ETF directly tied to Bitcoin, an important step has been taken today to turn the largest Bitcoin fund into a spot ETF. Grayscale and the NYSE have formally applied to the SEC to turn the GBTC fund holding approximately 650,000 BTC into an ETF. It is eagerly awaited how the SEC will respond to this in the coming period. SEC Chairman Gary Gensler, who was live on CNBC around the time the ETF opened for trading, said, "Bitcoin still remains a highly speculative asset."