Bitcoin spot ETF trading volume approaches $1 billion, ProShares resubmits five leveraged Bitcoin ETFs
ETF Issuers are gradually applying for Bitcoin-related leveraged ETF products. According to Eric Balchunas, an ETF analyst at Bloomberg, there could be as many as dozens of similar products in the market in the coming months. The Bitcoin spot ETF has achieved impressive results in just three trading days.
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ProShares submits 5 Bitcoin leveraged and inverse ETFs
Applications for Bitcoin-related ETFs continue to emerge
Bitcoin spot ETF trading volume approaches billions of dollars
ProShares submits 5 Bitcoin leveraged and inverse ETFs
According to the prospectus submitted by ProShares, the 5 Bitcoin ETFs are as follows:
ProShares UltraShort Bitcoin ETF (-2x)
ProShares ShortPlus Bitcoin ETF (-1.5x)
ProShares Short Bitcoin ETF (-1x)
ProShares Plus Bitcoin ETF (+1.5x)
ProShares Ultra Bitcoin ETF (+2x)
The current ETF fees are yet to be determined, and they are planned to be listed on April 1st.
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Applications for Bitcoin-related ETFs continue to emerge
The New York Stock Exchange has also submitted a 19b-4 document, allowing the listing and trading of “commodity-based trust shares” options.
ETF analyst Eric Balchunas from Bloomberg explains that this document was submitted in order to list options for Bitcoin spot ETFs and could be approved within approximately two months.
He believes that there could be as many as a dozen or more similar Bitcoin leveraged ETF products in the market in the coming months.
Bitcoin spot ETF trading volume approaches billions of dollars
ETF analyst James Seyffart from Bloomberg tweeted that the total trading volume of Bitcoin spot ETFs in three days has reached nearly 10 billion US dollars.
Eric Balchunas explains the significance of this trading volume:
In 2023, a total of 500 ETFs were launched, with a total trading volume of 450 million US dollars. The highest trading volume for a single ETF was 45 million US dollars. BlackRock’s IBIT alone has a higher trading volume than all ETFs launched in 2023.
The data shows the trading volume of each ETF from highest to lowest:
Grayscale Bitcoin Trust BTC (GBTC): $5.129 billion
iShares Bitcoin Trust (IBIT): $1.995 billion
Fidelity Wise Origin Bitcoin Fund (FBTC): $1.468 billion
ARK 21Shares Bitcoin ETF (ARKB): $567 million
Bitwise Bitcoin ETF (BITB): $258 million
Invesco Galaxy Bitcoin Etf (BTCO): $102 million
Franklin Bitcoin ETF (EZBC): $87 million
Vaneck Bitcoin Trust (HODL): $51 million
Valkyrie Bitcoin Fund (BRRR): $15 million
WisdomTree Bitcoin Fund (BTCW): $12 million
IBIT
Bitcoin spot ETF
BlackRock
Further reading
BlackRock CEO: China bans Bitcoin due to totalitarianism, Bitcoin is a transnational ledger larger than governments
Bitcoin reaches $49K, spot ETF raises $4.6 billion on the first day, GBTC accounts for nearly half of the trading volume
