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Bitcoin spot ETF trading volume approaches $10 billion, ProShares submits five more Bitcoin leveraged ETFs

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Bitcoin spot ETF trading volume approaches $10 billion, ProShares submits five more Bitcoin leveraged ETFs

ETF issuers are gradually applying for Bitcoin-related leveraged ETF products. Bloomberg ETF analyst Eric Balchunas expects as many as dozens of similar products to emerge in the market in the coming months, while Bitcoin spot ETF has already achieved remarkable performance in just 3 trading days.

ProShares Files for 5 Bitcoin Leveraged and Inverse ETFs

According to the prospectus filed by ProShares, the 5 Bitcoin ETFs are:

  • ProShares UltraShort Bitcoin ETF -2x

  • ProShares ShortPlus Bitcoin ETF -1.5x

  • ProShares Short Bitcoin ETF -1x

  • ProShares Plus Bitcoin ETF +1.5x

  • ProShares Ultra Bitcoin ETF +2x

The ETF fees are currently pending and are planned to be listed on April 1st.

Bitcoin-Related ETF Applications Emerging

The New York Stock Exchange has also filed a 19b-4 document allowing for the listing and trading of "commodity-based trust shares."

Bloomberg ETF analyst Eric Balchunas explained that this filing is to list options on Bitcoin spot ETFs, with potential approval in as little as around 2 months.

He believes that in the coming months, the market may see as many as a dozen similar Bitcoin leveraged ETF products.

Bitcoin Spot ETF Trading Volume Nearing $10 Billion

Bloomberg ETF analyst James Seyffart tweeted that the total trading volume of Bitcoin spot ETFs in the past 3 days has approached $10 billion.

Eric Balchunas elaborated on the significance of this trading volume:

In 2023, a total of 500 ETFs were launched with a total trading volume of $450 million to date. The highest-trading ETF had a volume of $45 million. Just BlackRock's IBIT alone has a higher trading volume than all the ETFs launched in 2023.

The data shows the ETF trading volume ranking from highest to lowest:

  • Grayscale Bitcoin Trust BTC GBTC: $5.129 billion

  • iShares Bitcoin Trust IBIT: $1.995 billion

  • Fidelity Wise Origin Bitcoin Fund FBTC: $1.468 billion

  • ARK 21Shares Bitcoin ETF ARKB: $567 million

  • Bitwise Bitcoin ETF BITB: $258 million

  • Invesco Galaxy Bitcoin Etf BTCO: $102 million

  • Franklin Bitcoin ETF EZBC: $87 million

  • Vaneck Bitcoin Trust HODL: $51 million

  • Valkyrie Bitcoin Fund BRRR: $15 million

  • WisdomTree Bitcoin Fund BTCW: $12 million