The Securities and Exchange Commission remained very sceptical of proving a Bitcoin ETF or any other crypto-oriented ETF for that matter, but it eventually came around. Recently the Commission has managed to approve Bitcoin ETF futures, and it was listed on the New York Stock exchange the very next day for the sake of trading. According to various reports, the world’s first Bitcoin futures ETF has managed to secure more than $1 billion in investment right off the bat, on the very first day of trading.
The ETF managed to rank second among the daily trading volume, and it is nothing short of a victory for the crypto community and those people filing applications for further crypto-oriented ETFs. There were clearly many doubts regarding how this ETF would perform in the long run, but the overall sentiment of the market remains positive, and that is clearly a very bright sign.
First Bitcoin Futures ETF Secures Record Funding
It is believed that there are two different schools of investors, some of them are truly invested in the crypto market, and they continue to trade and invest their assets whenever they can, and it is sort of their go-to marketplace when it comes to investing.
Then there are those who try their best to avoid the crypto market given the extreme volatility that it presents in the long run, and these investors prefer forex and stock markets over the crypto market, and that is the reason why the stock market remains a hot plate even when the crypto market is around. But this Bitcoin futures ETF has provided these investors with a real chance to step into the crypto market and make their investment because it is as if trading stocks but tapping into the digital assets themselves.
Who knows how these investors would react to the crypto market after seeing amazing returns on their investment for the Bitcoin futures ETF? One can only hope that these investors would someday be able to embrace the crypto market and become active traders within its midst.