ProShares Bitcoin (BITO) Accounts to Top 2% of ETF Trades
- ProShares Bitcoin trades for BTC ETF are massive.
- ProShares Bitcoin accounts for the top 2% of overall ETF trade.
- Past few days accounts to inflow of $112. 79 million.
From the beginning of 2021, everyone was eagerly expecting the final official approval for the Bitcoin (BTC) ETF. Upon official approval by the U.S Securities and Exchange Commission(SEC) BTC’s Exchange Traded Fund (ETF) finally came by October 2021.
However, only the BTC ETF Futures trading was approved. On the other hand, the BTC ETF Spot trading still remains unapproved by the SEC. Many acclaims the SEC to approve Spot trade for BTC ETF too.
In spite of all this, certain analysts term that SEC wouldn’t approve the Spot trade anyhow in near future.
Apart from all this, the U.S first BTC ETF trading firm, the ProShares Bitcoin, which opened up officially on October 19, took to the hot news upon the industry.
ProShares Bitcoin’s Toppings
ProShares Bitcoin is the first and foremost BTC ETF firm officially opened in the United States and at the same time completely approved by the U.S SEC.
Besides, from the moment it launched, the shares and trades upon the firm were top-notch, growing greater and greater by every day.
Accordingly, at present, the overall trades for the platform account for the top 2% of the overall ETF trades.
Accordingly, on November 10, the overall shares traded amounted to a whopping $400 million upon the platform. Thus, maintaining such an average profusely, the BITO has topped the charts maintaining the top 2% of overall ETF trades.
However, even though the investors are pouring in, the price of the stock of BTC ETF upon the BITO still remains without a surge. Instead, the prices have dropped since its launch on the Newyork Stock Exchange.
Right now, the price of BTC ETF stock upon BITO stands at $42.3, about less than a dollar since its official launch.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
