FAST FIVE: The New Bitcoin ETF Just Did Something No Other ETF Has Ever Done
BITO 2nd day volume on target to bigger than opening day (which is nearly unheard of).
GBTC discount to BTC is at record high (as demand pulls away from the BTC Trust) 6.
Now, having bottomed at $29,307 on July 20th, bitcoin has just surged above April's prior highs to a new all-time high.
BITO is trading at yesterday's highs in the pre-market.
We suspect the term for today's trading will be “brace” as the options tail wags the underlying's dog to some extent.