With simply two total days of trading under its chugalug, the first Bitcoin (BTC) exchange-traded fund in North America reached more than $400 meg in volume and is expected to become even higher.

According to a tweet from Bloomberg annotator Eric Balchunas, the Bitcoin substitution-traded fund, or ETF, recently debuted by Canadian house Purpose Investments is probable to hit $1 billion in assets under management by February. 26. His prediction came prior to Purpose reporting its Bitcoin ETF traded $421.8 million betwixt the time when it was first listed on the Toronto Stock Commutation, or TSX, on Feb. 18 and when markets airtight Friday. The ETF is listed under the ticker BTCC.

Balchunas compared the impressive debut of the Purpose Bitcoin fund to other ETFs currently trading on the TSX. At more than than $four.vi billion in total assets, the JPMorgan BetaBuilders Canada ETF is ane of the biggest in the state. The Bloomberg analyst said he "wouldn't be surprised" if the Purpose Bitcoin ETF surpasses all others in Canada within two months, "disallowment a nasty selloff."

The Purpose ETF is non the simply Bitcoin exchange-traded fund in North America to share the wealth. Last week, Evolve Funds Group received approval from the Ontario Securities Commission to launch its own Bitcoin ETF, which started trading on Friday under the ticker EBIT. Every bit of the shut of markets on Friday, EBIT.U had traded 103,595 units priced at $21.54.

Though some investment managers take hinted that the Securities and Exchange Committee under U.South. President Joe Biden might be more than open to blessing a Bitcoin ETF, regulators in the United States have not even so given them the dark-green calorie-free. Both New York Digital Investment Grouping applied and Dallas-based Valkyrie Digital Avails accept filed the paperwork for a Bitcoin ETF since the new president took office.

According to the TSX, BTCC.B had traded 9,270,111 units priced at $10.55, and BTCC.U ii,065,855 units at $ten.57 as of Friday.