Bitcoin ETF News

ProShares Bitcoin ETF Breaks All Earlier AUM Billion-Dollar Records In Just 2 Days.

The ProShares Bitcoin ETF has broken an 18-year-old AUM billion-dollar fast-track record.

The ProShares Bitcoin Strategy ETF has been the fastest fund to surpass $1 billion in assets under management since it began trading this week (AUM).

The much-awaited launch of BITO, the first Bitcoin (BTC) future exchange-traded fund (ETF) in the United States, has yielded a slew of positive results.

After just two days of trading, the fund became the fastest to hit the 10-point AUM, according to Bloomberg’s senior ETF analyst Eric Balchunas. The previous record-holder, a gold-based financed ticker GLD, which earned a trillion dollars in three days in 2004, was easily exceeded by BITO.

He called it a “poetic apropos,” maybe alluding to the Bitcoin store of value products vs digital gold.

“I’ve never seen anything like it,” Balchunas said. He reposted the article of Bloomberg Intelligence research analyst James Seyffart, who evaluated the original chart, saying, “I bet ProShares is astonished.”

If the volume continues, Balchunas highlighted that there may be no more contracts to buy, citing a post by The ETF Store President Nate Geraci, who claims that around 45 percent of BITO exposure is currently for future November contracts.

“If $ BITO maintains this entry-level, due to the limits, no futures will be acquired at the end of the month.”

When it was introduced on Tuesday, the ProShares Fund also broke the record for the world’s first-ever biodiversity record, reaching $ 1 billion. More than 24 million shares were traded on the first day, and the ETF has now sold over $ 2 billion in volume since its inception.

Leave a Comment

Your email address will not be published. Required fields are marked *