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ProShares Bitcoin ETF Hits $1 Billion AUM In Two Days

  • ProShares bitcoin-linked ETF hit $1 billion in belongings beneath administration in simply two days, a file for the ETF business.
  • Gold ETF GLD held the earlier file, having crossed the $1 billion mark in three days after it launched in 2004.
  • A second bitcoin futures ETF is set to launch subsequent week.

The ProShares Bitcoin Strategy ETF ($BITO), the primary bitcoin-linked exchange-traded fund within the U.S., has become the quickest ETF ever to attain the $1 billion mark in belongings beneath administration (AUM).

It took the earlier file holder, the gold ETF GLD, three days to cross by way of the ten digits and $BITO has performed it in solely two. Since going dwell yesterday, the fund has traded over $2 billion in quantity.

BITO went dwell yesterday instead funding automobile for retail and institutional traders thinking about oblique bitcoin publicity. The fund invests in bitcoin futures contracts, relatively than precise BTC, and thus value appreciation of the fund’s shares might not monitor the bitcoin spot market value.

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