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
Analyst
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.
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