The Bitcoin Futures ETF with the ticker symbol BITO began trading on Tuesday. The product seems to be a big hit with investors. The ETF grew to $0.5 Billion in UM by the end of the day, while about $1.0 of securities traded hands. This performance makes the ETF the most successful one in history. As stated in previous posts, we are encouraged that a Bitcoin ETF is finally allowed to trade in the US. At the same time, the product offered to the public has a poor design.
