There it is! It's only 1:30 and $BITO has already traded $1 billion on its second day. Wild. Assuming this thing converted just 43% of this volume into assets (it converted 57% yesterday), this is the first ETF to crack $1 billion in AUM in under 2 days. GLD did it in 3 days.
BIG NUMBERS: $BITO has traded $280m worth of shares in first 20min. That already puts it in Top 15 opening day launches of all-time, more than $GLD & $QQQ. $ARKX & $BUZZ were two from this year that made list. It has legit shot at $1b and top spot. We'll see, via @tpsarofagis
No idea if BTC breaks out on first attempt or corrects again first but this is one hell of a pattern.... the on chain analysis also suggests a breakout, along with S2F.
Talking of luscious charts, the ETH/BTC cross has seen a lovely consolidation and should move to near double from here if and when the wedge breaks. #Ethereum
The Bitcoin long term log chart looks pretty luscious. Who knows if the wedge breaks on first attempt but a consolidation pattern of this magnitude usually leads to a very, very powerful upside move. #BTC