$BITO Surges Past $1 Billion Mark as Bitcoin ETF Anticipation Mounts

By Lola Coin Jun 26, 202364Views

The Bitcoin Futures ETF, $BITO, has experienced a surge in inflows, surpassing $1 billion. This achievement is due to the anticipation surrounding the approval of a spot Bitcoin ETF by the SEC. $BITO had its largest weekly inflow in a year, with a trading volume of half a billion shares on Friday. Despite concerns about future roll costs, $BITO has remained resilient and accurately tracks the price of Bitcoin. ProShares data shows that $BITO has delivered impressive returns of 59.58% in market price and 59.62% in NAV year-to-date. The fund’s growth trajectory remains robust, with returns of 14.04% over three and six months. The interest in Bitcoin derivatives began with BlackRock’s filing for a Bitcoin ETF, prompting other firms like WisdomTree and Invesco to follow suit. The approval of a spot Bitcoin ETF would offer a regulated route for institutional and retail investors to invest in cryptocurrencies.

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