{"id":51448,"date":"2021-10-19T17:03:50","date_gmt":"2021-10-19T14:03:50","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=51448"},"modified":"2025-09-02T23:47:04","modified_gmt":"2025-09-02T20:47:04","slug":"trading-starts-for-proshares-first-us-bitcoin-futures-etf","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/trading-starts-for-proshares-first-us-bitcoin-futures-etf\/","title":{"rendered":"Trading starts for ProShares&#8217; first US Bitcoin-futures ETF"},"content":{"rendered":"<p>On the New York Stock Exchange (NYSE) under the ticker BITO, ProShares began trading a Bitcoin-futures-based ETF.<\/p>\n<p><!--more--><\/p>\n<p>Bitcoin, meanwhile, rose to a fresh local high above $63,000.<\/p>\n<p>Like Bitcoin, BITO rose a few percent shortly after listing, but faced selling pressure. The Block researcher Larry Cermak compared the price pattern of the new <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a> to the Burj Khalifa.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The first Bitcoin ETF just painted a beautiful and very common fuck you pattern also known as Burj Khalifa. Welcome home <a href=\"https:\/\/t.co\/MRvd8xCvD4\">pic.twitter.com\/MRvd8xCvD4<\/a><\/p>\n<p>\u2014 Larry Cermak (@lawmaster) <a href=\"https:\/\/twitter.com\/lawmaster\/status\/1450457816943271936?ref_src=twsrc%5Etfw\">October 19, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<p>Notably, shares of MicroStrategy, the bitcoin-focused company, fell 4.5% at the open.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"353\" height=\"310\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/image-40.png\" alt=\"Trading began for ProShares' first US Bitcoin-futures ETF\" class=\"wp-image-153378\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/image-40.png 353w, https:\/\/u1f987.com\/wp-content\/uploads\/image-40-300x263.png 300w\" sizes=\"auto, (max-width: 353px) 100vw, 353px\" \/><figcaption>Data: CNBC.<\/figcaption><\/figure>\n<p>Trading volume of ProShares&#8217; shares in the first 20 minutes exceeded $280 million.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BIG NUMBERS: <a href=\"https:\/\/twitter.com\/search?q=%24BITO&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BITO<\/a> has traded $280m worth of shares in first 20min. That already puts it in Top 15 opening day launches of all-time, more than <a href=\"https:\/\/twitter.com\/search?q=%24GLD&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$GLD<\/a> &#038; <a href=\"https:\/\/twitter.com\/search?q=%24QQQ&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$QQQ<\/a>. <a href=\"https:\/\/twitter.com\/search?q=%24ARKX&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ARKX<\/a> &#038; <a href=\"https:\/\/twitter.com\/search?q=%24BUZZ&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BUZZ<\/a> were two from this year that made list. It has legit shot at $1b and top spot. We&#8217;ll see, via @tpsarofagis <a href=\"https:\/\/t.co\/DgjPA42TnB\">pic.twitter.com\/DgjPA42TnB<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1450460291750371336?ref_src=twsrc%5Etfw\">October 19, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<p>According to Bloomberg analyst Eric Balchunas, the new ProShares instrument entered the top-15 ETFs by most active starts in its first trading session.<\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">October 19, 2021 | 17:32<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>BITO&#8217;s price continued to drift lower in line with the price of the underlying asset.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"455\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Screenshot_1-133-1024x455.png\" alt=\"Three-minute chart of ProShares' Bitcoin futures ETF (BITO).\" class=\"wp-image-153387\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Screenshot_1-133-1024x455.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Screenshot_1-133-300x133.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Screenshot_1-133-768x341.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Screenshot_1-133.png 1365w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Three-minute chart of ProShares&#8217; Bitcoin-futures ETF (BITO). Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/AMEX-BITO\/\" title=\"https:\/\/www.tradingview.com\/symbols\/AMEX-BITO\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">October 19, 2021 | 19:07<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>According to journalist Colin Wu, more than two hours after the start of trading, BITO&#8217;s trading volume reached $600 million.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">As of 11:47 am Eastern Time, BITO opened nearly 2.5 hours with a trading volume of 14.6 million, with an average price of US$41.12 and a transaction value of $600 million.<\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1450490335109390341?ref_src=twsrc%5Etfw\">October 19, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">October 19, 2021 | 20:07<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>The BITO price largely recovered after the drawdown. Bitcoin moved toward the $63,500 mark.<\/p>\n<\/div>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"461\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BITO2-1024x461.png\" alt=\"Three-minute chart of ProShares' Bitcoin futures ETF (BITO).\" class=\"wp-image-153406\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BITO2-1024x461.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BITO2-300x135.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BITO2-768x346.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BITO2.png 1358w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption> Three-minute chart of ProShares&#8217; Bitcoin-futures ETF (BITO). Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/AMEX-BITO\/\" title=\"https:\/\/www.tradingview.com\/symbols\/AMEX-BITO\/\">TradingView<\/a>. <\/figcaption><\/figure>\n<\/div>\n<\/div>\n<p>Earlier, analysts <a href=\"https:\/\/u1f987.com\/en\/news\/analysts-split-on-the-impact-of-bitcoin-etf-launch\">diverged in opinions<\/a> about the potential impact of the new ETF on Bitcoin&#8217;s price.<\/p>\n<p>As reported, the head of Digital Currency Group <a href=\"https:\/\/u1f987.com\/en\/news\/dcg-chief-confirms-plans-to-convert-grayscales-bitcoin-trust-into-an-etf\">confirmed<\/a> plans to convert the Grayscale Bitcoin Trust (GBTC) into an ETF named BTC. To this end, the company has filed the relevant form with the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> via <a href=\"https:\/\/twitter.com\/Bloqport\/status\/1450453257881591825\">this form<\/a>.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full news stream, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the New York Stock Exchange, ProShares began trading a Bitcoin-futures-based ETF.<\/p>\n","protected":false},"author":1,"featured_media":51449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1211],"class_list":["post-51448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"37","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51448","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=51448"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51448\/revisions"}],"predecessor-version":[{"id":51450,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51448\/revisions\/51450"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/51449"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=51448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=51448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=51448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}