Bitcoin ETF Launch Hype decreases because funds lose value, BTC Future's Open Interest in 2 months by 38 % - Finance
Bitcoin ETF Launch Hype decreases because funds lose value, BTC Future's Open Interest in 2 months by 38 % - Finance
after the charged debut of the Bitcoin Fund (ETF) of Proshares, Bitcoin Futures ETF from Valkyrie and the Bitcoin strategy ETF from Vaneck seems to have been significantly waned off in this type of fund. After the proshares Bitcoin ETF Bito reached an all -time high on November 10, the ETF has fallen 39 % in the past 64 days. The Bitcoin ETF from Valkyrie has also lost 37 % of value in the past two months.
Bitcoin futures ETF-Dleeding continues
A large part of the cryptocurrency community was very excited about the introduction of the first stock market traded Bitcoin Fund (ETF), since a number of Bitcoin ETF applications were rejected before 2021.
Finally, when the first US bitcoin futures ETF was approved, the debut of Proshares Bitcoin Futures-Etf Shattered records in the first 24 hours was achieved in the first 24 hours a total volume of almost 1 billion US dollar. Months later the proshares Bitcoin Strategy ETF ( bito ) swap the hands on January 13, 2022, but this price is 39.12 % below the high of 44.29 November 10, 2021.
Bloomberg-Autor Katherine Greifeld declares in mid-November that the "Bitcoin Futures-ETF madness wanes". "During the Proshares fund in just two days, $ 1.1 billion-as quickly as an ETF has ever done-this growth pace has cooled down significantly," said Greifeld back then.
The financial author continued to go into the Vaneck ETF because she found that lower administrative fees could withdraw the fund from the others. At that time, Greifeld quoted the leading ETF analysts of Bloomberg Intelligence, Eric Balchunas, who said:
there is definitely a doldrum in terms of launch mania, and so Vaneck tries to inspire people again.
BTF of Valkyrie has dropped by 37 %, XBTF from Vaneck has dropped by 27 %, the aggregated open interest in Bitcoin futures in cryptocurrency exchanges has fallen by more than 38 %
The same applies to Valkyrie Bitcoin Strategy Etf ( btf ), when an all-time high (ATH) of $ 26.67 Share reached, and today it changes for $ 16.70 per unit or $ 37.38 % below the ATH.
The Vaneck Bitcoin Strategy Etf ( XBTF ) has only fallen by 27.70 %, since the ETF was traded on November 19, 2021 for $ 58.08 per share and is now traded for 41.99 per share. While Proshares and the Valkyrie Etfs made a long time before Vaneck's offer, all funds have a strong relationship with Spot price of Bitcoin target = "_ blank" href = "https://www.coingecko.com/en/exchanges/derivativees" rel = "noopener"> appointment markets .
The futures markets have experienced a decline in open interest Bitcoins (btc) Price action at the spot market.
What do you think about the three Bitcoin futures ETFs and your overall performance in the past few months? Share your opinion on this topic in the comment area below.
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