BlackRock's iShares Bitcoin Premium Yield (BITA) Bitcoin ETF recorded volume of $6 million and $7 million in its first two days of listing.
ETF analyst Eric Balchunas said the results were good enough to place BITA in the top 1% of ETF launches, although still a long way from IBIT. He said the fund is likely to attract more assets, but may need time in the current market environment.
BITA is a new product in BlackRock's Bitcoin ETF lineup. While it hasn't yet generated the trading volume of IBIT, its initial liquidation suggests the fund has had a relatively solid start.
Balchunas did not provide a specific timeline for the expansion of BITA's assets. It is also unclear whether the pace of Capital inflow will be faster or slower than previous ETF launches.
