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Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, reports that the 2x SpaceX Derby had a strong debut with a combined trading volume of over $1 billion on its first day.
Balchunas notes that LeverageShares, despite being less prominent in the U.S., took a significant early lead with $281 million in volume, the largest opening day since IBIT. He adds that even ETHA and DRAM did not reach these volumes.
Balchunas has recently tracked several key milestones across ETF markets. He compared Bitcoin’s recent decline to the market reaction during the historic taper tantrum. Earlier this year, he reported as VOO became the first ETF to reach $1 trillion in assets.