The new fund launches into a stock market dominated by a handful of giant technology companies.
Fidelity and BlackRock's spot bitcoin ETFs have taken 70% of the inflows into the new products.
Vanguard has decided to completely ban crypto products from its platform, unlike its peers.
A consistent bid from its sister fund could give the ARK 21 Shares Bitcoin ETF a leg up.
Almost a dozen funds got off to a strong start, with some $4.6 billion of shares changing hands.
The agency authorized 11 funds to begin trading Thursday.
The SEC's X account was compromised by a fake post claiming that the agency had green lit plans for the ETFs.
Crypto insiders think the SEC will take action on a slew of applications by a Jan. 10 deadline.
Bitwise and Ark / 21Shares are offering zero fees for the first six months or the first $1 billion in assets.
Bitcoin's boosters say ETFs backed by the largest crypto token would represent a watershed moment for digital assets.
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