Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
ProShares Bitcoin Strategy ETF (BITO) Hits Record $2B in Assets Amid Spot ETF Anticipation

ProShares Bitcoin Strategy ETF (BITO) Hits Record $2B in Assets Amid Spot ETF Anticipation

Cryptopotato2024/01/11 06:22
By: Chayanika DekaMore posts by this author
BTC+0.93%
BITO’s trading volume surged to BITO surpassed $800 million amid excitement over SEC’s verdict on a spot Bitcoin ETF in the US.

The ProShares Bitcoin Strategy ETF (BITO) has witnessed a significant surge in its assets under management, approaching the $2 billion mark on January 8th, thereby registering an all-time high.

On the same day, the trading volume of the fund crossed $800 million.

  • Launched in October 2021, BITO made history as the first-ever Bitcoin futures exchange-traded fund (ETF) in the United States.
  • In the absence of spot Bitcoin ETFs, the popularity of products investing in BTC futures soared. Shortly after its launch, BITO swiftly reached $1 billion in assets, demonstrating the strong demand for crypto-related investment vehicles.
  • However, the fund faced a setback in November 2022 when its asset base contracted to around $500 million following the collapse of the FTX crypto exchange.
  • Recent months have seen a remarkable rebound for BITO, driven by substantial inflows amid a Bitcoin rally.
  • The latest milestone comes amid increased anticipation of approval for spot Bitcoin ETFs in the US, which has fueled optimism and contributed to the renewed interest in BTC-related investment instruments.
  • Last month, Cathie Wood’s ARK Invest liquidated nearly $45 million in GBTC shares and over $150 million in Coinbase stocks.  A significant portion of the proceeds from the GBTC sale, totaling $100 million, was utilized to acquire Bitcoin Futures ETF BITO.
  • Following the move, ARK became the second-largest holder of the BITO.

You Might Also Like:

  • Deficiencies in Spot Bitcoin Market Amid ETF Expectations Revealed
  • CBOE Confirms Multiple Bitcoin ETPs Will Begin Trading Tomorrow
  • A Look at The Best Bitcoin ETF Ads so Far
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

The Bank of England keeps interest rates unchanged as expected and slows the pace of balance sheet reduction.

The Bank of England reiterated its cautious stance on future interest rate cuts, emphasizing that inflationary pressures remain significant. The government's autumn budget may become the decisive factor for the interest rate cut path for the remainder of the year.

Jin102025/09/18 19:44
Highlights of the Federal Reserve FOMC Statement and Powell's Press Conference

This FOMC decision and Powell’s speech sent a clear signal: the Federal Reserve is resuming rate cuts, but at a more cautious pace, with the core focus on balancing inflation stickiness and the risk of a slowdown in employment.

Jin102025/09/18 19:44
Initial Jobless Claims Data Stages a "Magic Show": From the Highest in Nearly Four Years to the Largest Drop in Nearly Four Years in an Instant!

Just a week ago, initial jobless claims had surged to their highest level in nearly four years, sparking market concerns over a spike in layoffs. However, the latest data released today presents a dramatic turnaround.

Jin102025/09/18 19:44

Trending news

More
1
The Bank of England keeps interest rates unchanged as expected and slows the pace of balance sheet reduction.
2
Highlights of the Federal Reserve FOMC Statement and Powell's Press Conference

Crypto prices

More
Bitcoin
Bitcoin
BTC
$117,490.24
+1.38%
Ethereum
Ethereum
ETH
$4,597.99
+1.36%
XRP
XRP
XRP
$3.1
+1.70%
Tether USDt
Tether USDt
USDT
$1
-0.02%
BNB
BNB
BNB
$988.62
+3.21%
Solana
Solana
SOL
$248.47
+3.05%
USDC
USDC
USDC
$0.9997
-0.00%
Dogecoin
Dogecoin
DOGE
$0.2820
+2.80%
Cardano
Cardano
ADA
$0.9304
+3.97%
TRON
TRON
TRX
$0.3513
+2.78%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter