ProShares Bitcoin Strategy ETF Yet Again Surpasses $1B AUM
- On June 29 investors put in $14.9 million, and on July 3 they put in another $11.9 million.
- BITO, the first Bitcoin futures exchange-traded product, debuted in October 2021.
Assets under management (AUM) for the ProShares Bitcoin Strategy ETF (ticker symbol: BITO) have risen back beyond $1.04 billion thanks to massive inflows over the last few weeks.
According to ETF.com, on June 29 investors put in $14.9 million, and on July 3 they put in another $11.9 million. Since BlackRock submitted its proposal for a spot Bitcoin ETF, the fund’s assets under management (AUM) had increased by more than $200 million.
Investors Optimistic
Although the recent upbeat sentiment around a spot Bitcoin ETF is great news for crypto investment products in general, the amount of money going into these funds is still far away from what it was during the bull market.
BITO, the first Bitcoin futures exchange-traded product, debuted in October 2021 and, only two days later, became the quickest ETF in history to achieve $1 billion in AUM.
Despite the fact that the market has cooled dramatically, investors have continued to pour money into crypto investment products on a weekly basis. According to data from CCData, total AUM for all investment products related to digital assets rose by 69.5% year-to-date in June, hitting $33.4 billion.
Analysts have discovered that the Grayscale Bitcoin Trust (GBTC) accounted for 74% of the trading volume of all trust products in the market in a recent study. The expert pointed out that the rising demand for and market share of GBTC reflect the rising optimism around the underlying asset.
Recent market volatility in Bitcoin’s price has led to a fascinating trend among retail investors, who have been called the “shrimps” for their risk-taking behavior. Even though most Shrimps have less than 1 BTC apiece, they have been steadily amassing the cryptocurrency at a pace of 33,800 BTC every month.
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Read more: https://thenewscrypto.com/bitcoin-news-proshares-bitcoin-strategy-etf-yet-again-surpasses-1b-aum/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
