BITO volumes soar Tuesday in midst of BTC price rally

After a bitcoin rally brought the asset’s price above $35,000 late Monday, trading volumes for the first and largest US bitcoin futures fund soared Tuesday.   

The ProShares Bitcoin Strategy ETF (BITO) — the first US fund to hold bitcoin futures contracts — saw volumes amounting to 21.1 million shares on Monday, up from its average volumes of about 8 million shares. 

That number rose Tuesday, as 32.5 million shares of BITO had traded as of 2:30 pm ET, according to Nasdaq data. BITO’s price was $17.20 at that time, making the volumes’ value worth roughly $557 million on the day so far. 

The ETF’s Tuesday volumes were poised to easily surpass the 33.5 million shares…

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