ProShares Bitcoin Strategy ETF (BITO) Sees Record Inflow, Now Holds $1 Billion in Bitcoin Futures!

By Lola Coin Jun 26, 202356Views

ProShares Bitcoin Strategy ETF (BITO) has experienced its largest weekly inflow in a year, surpassing $1 billion in Bitcoin futures. This information was highlighted by Bloomberg Senior ETF Analyst Eric Balchunas on Twitter. The filing for a spot Bitcoin ETF by BlackRock on June 15 caused the price of Bitcoin to rise above $30,000 and sparked interest in Bitcoin derivatives. BITO, the first Bitcoin-linked ETF in the US, is popular among institutional investors as it allows them to gain exposure to Bitcoin-linked returns through a regulated product. Balchunas noted that despite criticism of BITO due to futures roll costs, it has closely tracked Bitcoin’s performance, lagging behind spot prices by only 1.05% annually. The recent surge in Bitcoin prices, reaching over $31,000 and achieving a 14% monthly gain, is believed to be driven by institutional interest in ETF filings.

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