The ProShares Bitcoin Strategy ETF (BITO) experienced a surge in inflows on June 26, with a weekly influx of $65.3 million. This marked the largest weekly inflow in a year for the fund, bringing its total assets to over $1 billion. BITO is the first Bitcoin-linked exchange-traded fund (ETF) in the United States and has gained popularity among institutional investors. Bloomberg senior ETF analyst Eric Balchunas noted that BITO has closely mirrored the performance of Bitcoin, lagging spot prices by 1.05% annually. The ETF charges a fee of 0.95%.
ProShares Bitcoin Strategy ETF (BITO)
ETF Newz Says:
The BITO fund has made a 59.6% gain since the start of 2023 according to ProShares. There’s been an uptick in Bitcoin derivatives interest across the board since BlackRock filed for its own Bitcoin ETF on June 15.