ProShares’ Bitcoin Strategy ETF (BITO) – a $BTC futures fund – last week recorded the highest weekly inflows in over a year. By shauryamalwa.
A flurry of Bitcoin ETF filings in the U.S. has almost instantly spurred interest in the asset from institutional investment circles.
BITO has closely tracked spot bitcoin prices which has likely added to its allure among traders. “It pretty much has tracked bitcoin perfectly. It lagged spot by 1.05% , but its fee is 0.95%,” Balchunas tweeted. Bitcoin prices rallied in the past two weeks as investment giant BlackRock filed for a spot bitcoin ETF in the U.S.
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