$BITO is now ahead of $GBTC in terms of daily trading volume
reported by U.Today
, Grayscale failed to convince the SEC to approve its application to convert GBTC into an ETF. As a result, GBTCэs discount collapsed to a record 35%. The leading crypto money manager swiftly filed a lawsuit against the agency, decrying the highly anticipated rejection.Last month, ProShares launched the world's first short Bitcoin ETF that makes it possible for investors to bet against the world's largest cryptocurrency.
The ProShares Short Bitcoin Strategy ETF enjoyed a successful launch, with its volume growing by about 300% within a week. Balchunas claims that BITI's numbers are"quite healthy," even though they may appear small in comparison to the mammoth volume recorded by BITO after its debut.
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