The long-awaited acceptance of Bitcoin exchange-traded funds in the US came for the first time this week, with a Bitcoin ETF trading for the first time in history on Tuesday. Although it is an ETF that tracks futures prices, the second Bitcoin futures ETF is now traded on the Nasdaq stock market at 9.30 US time today, after this move, which experts interpreted as a “very important step”.
At the time of writing, the Valkyrie Bitcoin Strategy ETF is trading at $24.6. In the first hour, 940,000 shares were traded in the Valkyrie ETF. At the current price, this equates to a trading volume of about $23 million. The ProShares ETF, on the other hand, recorded over $230 million in volume in 15 minutes. This clearly shows that ProShares is taking advantage of being first.
had set a record
As it is known, Bitcoin ETFs are seen as a much easier way to invest in Bitcoin for corporate firms that do not want to take risks such as custody and management. ProShares Bitcoin Strategy fund (BITO), the first Bitcoin futures ETF to be traded, was launched on Tuesday and managed to attract more than $1 billion in investments in just two days. Along with the interest in this Bitcoin ETF, the price of the largest crypto currency also rose above $ 67,200.
Spot Bitcoin ETF coming?
In the event that an ETF that directly tracks the Bitcoin price is accepted, experts expect a much stronger upward wave, while a BTC price is expected to be between 90 thousand and 100 thousand dollars for the end of the year.
The biggest cryptocurrency is trading at $61,800 at the time of the news.
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