BITX records $5.5M in trade volume on launch day

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

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