BlackRock's BTC income ETF 'BITA' sees $13M in first two days

BlackRock's Bitcoin Income ETF (BITA) recorded trading volumes of $6 million and $7 million, respectively, in its first two days of trading, according to Bloomberg ETF analyst Eric Balchunas. On X, Balchunas noted that while this performance ranks in the top 1% of all ETF launches, it falls significantly short of the level set by BlackRock's spot Bitcoin ETF (IBIT). He described BITA as one of the most promising products for fund inflows but suggested it may take some time for its performance to gain momentum due to numerous market variables. Meanwhile, 10x Research previously assessed that investing in BITA would yield returns below that of holding BTC directly in nearly all scenarios, regardless of the cryptocurrency's price direction.