ProShares Bitcoin Strategy ETF (BITO) has surged past the $2 billion mark, fueled by the frenzy around the pending approval of the spot ETF, which, ironically, could be its biggest threat.
ProShares says that its futures ETF has been growing rapidly even before the rumours on the spot ETF blew up and that Bitcoin’s growth transcends the short-term rumour mill.
All the headlines in the past month have been about the Bitcoin spot ETF, with experts and market insiders predicting it could be approved any day. However, while the spot ETF gains all the attention, the Bitcoin futures ETFs have been on a roll, with the most renowned, the ProShares Bitcoin Strategy ETF (BITO), breaking $2 billion in assets under management yesterday.
Launched in October 2021 by the Maryland-based ETF issuer ProShares, BITO is the world’s largest crypto ETF. Within days of its launch, the ETF hit a billion dollars in assets as investors piled on to bet on BTC. However, unlike the upcoming spot ETF, BITO does
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