Major Bitcoin ETFs are setting new milestones for BTC inflows. The ProShares ETF, which trades on the NYSE under the symbol BITO, has achieved a new milestone by becoming the first U.S. ETF to be tied to the bitcoin (BTC) cryptocurrency. According to Arcane Research, the BITO ETF’s overall BTC exposure has reached a fresh all-time high of 28K BTC. Because of the intense floods, it was conceivable.
The BITO Will Release 3846 Futures Contracts
According to Arcane Research, there may be spillover impacts on BTC’s price due to the recent influx of money into futures-ETFs. Nevertheless, market participants’ pursuit of delta-neutrality pushes them to accumulate further in the spot market, where their net short position might be balanced.
BITO has also declared the launch of its 3846 March derivative contracts. Due to the unpredictable economic environment following the Ukraine and Russian crises, the last time sliding period appeared to be extremely tough.
ProShares BITO: AUM (BTC Denominated). Source: ProShares
BITO is the very first BTC-linked ETF in the United States, providing investors with a straightforward, liquid, and transparent alternative to acquiring awareness of BTC returns. The Fund’s primary goal will generate investment returns by managing exposure to BTC futures contracts.
BITO, on the other hand, launched its March position on Monday by moving 437 March futures into April. In a single day, the payments received 225 Bitcoin in contributions. Finally, the study concluded that the large inflows into ETFs indicate that investors’ appetite for BTC is growing through traditional investment techniques.
Purpose Bitcoin ETF Hodls 36,271.8 Bitcoin
The very first Bitcoin ETF, called Purpose Bitcoin ETF (BTCC), was launched in February last year. It drew a lot of attention from the media and investors. As with other popular commodities and stock-based exchange-traded funds (ETFs) that may be exchanged on the Toronto Stock Exchange, Canada’s biggest exchange, the Purpose Bitcoin ETF enables investors to access the core commodity, BTC.
Using statistics from Glassnode, Wu Blockchain claims the very first North American ETF, the Purpose Bitcoin ETF, possesses 36,271.8 Bitcoin. It is the fund’s most recent high-water mark in BTC holdings. In the meantime, the ETF has gained 2,473.5 Bitcoin within only 2 weeks.
Despite the unpredictability of the market, BTC has managed to obtain some ground. The world’s largest cryptocurrency has increased by almost 15 percent in the previous thirty days. Bitcoin has gained 1.8 percent in the previous 24 hours and is trading at $43,825.23.Whereas the 24 hours trades volume has increased by 16 percent.