Summary First leveraged Bitcoin ETF in the US has had $4.2M in trading volume since its debut.

The Volatility Shares 2x Bitcoin Strategy exchange-traded-fund (BITX), the first leveraged cryptocurrency exchange-traded fund in the United States, began trading on Tuesday and has seen approximately $4.2 million in trading volume since its inception.

According to Bloomberg data, about $500,000 in shares were traded in the first 15 minutes. Since the start of the trading session, the current share price of BITX has risen as much as 2% to $15.90 and is currently around $15.48.

The U.S. Securities and Exchange Commission (SEC) allowed the ETF to become effective on Friday, paving the way for it to start trading on Tuesday. In the United States, several futures-based ETF products are already trading; however, spot products have consistently been blocked from launching by the SEC. Other leveraged bitcoin futures products have also failed to receive the necessary approvals to launch.

The first ETF backed by bitcoin futures to launch was ProShares’ BITO, which saw approximately $1 billion in trading volume on its first day of trading in 2021, according to ProShares, and amassed approximately $570 million in assets.

Read more: ProShares’ Bitcoin Futures ETF Racks Up Biggest Weekly Inflow in a Year

Edited by Nelson Wang.