Good debut performance! First U.S. Bitcoin Futures ETF Nears $1 Billion in First Day of Trading

The cryptocurrency industry celebrated a milestone event on Tuesday local time. ProShares Bitcoin Strategy (NYSE:BITO), the first U.S. bitcoin futures ETF, officially landed on the New York Stock Exchange, trading at nearly $1 billion on its first day of trading, the second-highest volume in history.

The ETF closed up 4.9 percent to $41.94 on Tuesday, trading under the symbol BITO. 24.1 million shares changed hands, according to the data.

Dave Nadig, chief investment officer and head of research at ETF Trends, noted that most of the ETF's first day of trading came from retail investors, with very few trades made by large institutional investors.