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 Date
Symbol
Fund Name
Stock Price
Assets
Volume
Value Traded
Jun 22, 2023
HCMT
Direxion HCM Tactical Enhanced US ETF
25.2
15.32M
4,970,928
$125,267,386
Jun 16, 2023
GJUN
FT Cboe Vest U.S. Equity Moderate Buffer ETF – June
29.84
–
545,541
$16,278,943
Jun 21, 2023
VFLO
VictoryShares Free Cash Flow ETF
25.04
17.64M
200,302
$5,015,562
May 18, 2023
CHAT
Roundhill Generative AI & Technology ETF
28.67
80.03M
104,711
$3,002,064
Mar 31, 2023
DCMB
DoubleLine Commercial Real Estate ETF
50.43
26.00M
51,685
$2,606,475
Jun 20, 2023
CLIP
Global X 1-3 Month T-Bill ETF
25.03
10.25M
50,003
$1,251,575
May 10, 2023
NVDY
YieldMax NVDA Option Income Strategy ETF
23.32
16.41M
52,237
$1,218,167
ETF volume data accessed via StockAnalysis
BITX: (Source: Bloomberg)
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