​VanEck Bitcoin Strategy ETF launch day volume a fraction of B | Best Crypto Traders Official

​VanEck Bitcoin Strategy ETF launch day volume a fraction of BITO's
Lower volumes compared to ProShares were expected, but Van Eck hopes its lower fees can give it an edge over competitors.
The VanEck Bitcoin Strategy ETF (XBTF) closed its first day of trading on Nov. 16 with "respectable" trading volume, but one that pales in comparison to similar launches.
Bitcoin futures ETFs provide investors exposure to potential future prices of Bitcoin without forcing them to hold any Bitcoin themselves.
At market close on the Chicago Board of Exchange (CBOE), XBTF had accumulated around $9.5 million in assets under management (AUM), and saw around $4.6 million in daily trading volume according to investing.com. This is just a fraction of the first-day trading volume of $1 billion the ProShares Strategy (BITO) enjoyed on Oct. 19 on NYSE. BITO has since reached the top 2% of all ETFs by total trading volume.
Tommy Horan, Head of Corporate Partnerships at Australian exchange Swyftx said that it had been a “pretty subdued launch but VanEck won’t be too worried. Their [lower] fees should attract a steady rate of inflows over the next quarter.
“This was always going to be a bit of a non-event after all the hype around ProShares’ $1.1bn launch and continues the trend we saw with Valkyrie’s ETF.”