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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 buyers have been much more enthusiastic about crypto, and bitcoin futures ETFs have been in a position to journey 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 out there that wanted to be crammed – significantly for buyers who need to use ETFs to seize the complete crypto market of their portfolio.
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