Cryptocurrencies
Bitcoin ETF Debut Didn’t Draw Retail Trader Interest, Vanda Says
- Individuals bought just $7.68 million worth of BITO Tuesday
- Debut ‘wasn’t as much of a blockbuster’ as expected: Vanda
This article is for subscribers only.
The hotly-anticipated debut of the first Bitcoin-linked exchange-traded fund listed in the U.S. was likely largely ignored by retail traders, according to Vanda Research.
The futures-based ProShares Bitcoin Strategy ETF, which debuted under the ticker BITO on Tuesday, drew $7.68 million in cash from individual traders, said the firm that tracks retail-trading flows in the U.S. The day-trading crowd instead preferred tech heavyweights like Apple Inc. and Alibaba Group Holding Ltd. in addition to clean energy stocks.