A slow first day of trading on the short Bitcoin ETF may have been nothing but a slight hiccup in ProShares’ newest product as volumes grew on the second day.
The first short Bitcoin ETF from ProShares got off to a very slow start on its June 21 launch but gathered pace by increasing trading volume 380% on day two.On launch day June 21, the ProShares Bitcoin Short Strategy Exchange-Traded Fund (BITI) traded a lackluster 183,300 shares which ETF analyst at Bloomberg Eric Balchunas noted in a tweet was “less than 1% of the volume $BITO had at this time on Day One.”However the next day’s trading volume jumped nearly four times to 886,200 shares worth about $36.2 million according to Yahoo Finance.ProShares #Bitcoin short strategy ETF (BITI) trades over 870k shares, 35 million value, on second trading dayhttps://t.co/gyfMcm4UOz— unfolded.
