When the primary U.S. bitcoin futures ETF was launched, it made a big impact. The ProShares Bitcoin Technique ETF (BITO) was launched on Oct. 18, 2021, and it was the second-highest traded ETF in existence. Turnover was over $1 billion on the primary day, whereas all seven ether futures ETFs traded solely $7 million on Oct. 7. However this was a unique time. Bitcoin costs have been at their peak at over $69,000, and Ethereum costs have been equally at their peak at over $4,800. Mainstream traders have been much more enthusiastic about crypto, and bitcoin futures ETFs have been capable of trip that wave. Moreover, ether itself has much less recognition than bitcoin; the market share for bitcoin is about 51% vs. 17% for ether. However whereas ether broadly has much less demand than bitcoin, this was nonetheless an area available in the market that wanted to be stuffed – notably for traders who wish to use ETFs to seize the total crypto market of their portfolio.
