The Bitcoin (BTC) Strategy ETF (BITO), offered by financial services company ProShares, has witnessed a new record with a weekly investment of $65 million.
The recent increases in the Bitcoin price and the trillion-dollar asset management BlackRock leading companies such as spot Bitcoin exchange-traded fund (ETF) applications mobilized investors. Bloomberg senior ETF analyst by Eric Balchunas conveyed by data offered by ProShares Bitcoin Strategy ETF (BITO) record $65 million took an investment.
BITO’s previous record of the year 2023 April per month $40 million volume was recorded.
Since BITO is not a spot ETF, it is a futures Bitcoin ETF. US Securities and Exchange Commission (SEC) was approved by.
The ETF in question was first October of 2021 per month on the New York Stock Exchange (NYSE) listed on and then on the Chicago Mercantile Exchange (CME) processing opened. According to CME data, BITO’s over $1 billion transaction volume.
Balchunas, who mentioned the advantages of BITO to investors in the details of his sharing on the subject, especially It has a successful synchronization with the Bitcoin price. stressed:
BITO has managed to track Bitcoin price almost perfectly. The difference between the spot and the annual was 1.05%, and with it 0.95% in terms of pay. Compared to the 5% estimates, this is a remarkable achievement.
While it is not known whether the SEC will accept spot Bitcoin ETF applications, especially in the past weeks BlackRock many companies, including Queued for Bitcoin ETF.