Bitcoin ETF fever returns: Biggest inflow to ProShares’ BITO in a year

The BITO fund has made a 59.6% gain since the start of 2023 according to ProShares. Theres been an uptick in Bitcoin derivatives interest across the board given that BlackRock applied for its own Bitcoin ETF on June 15. According to the Deribit crypto alternatives exchange, Bitcoin futures open interest (OI) has actually surged because last week. It is presently $319 million since June 25, up around 30% from the exact same duration last week. OI is a step of the total variety of impressive futures contracts that have not been settled. BTC futures OI over the previous month. Source: DeribitThe resurgence in ETF trading and the resultant BTC rate pump has also been good news for the worlds biggest crypto asset supervisor, Grayscale. The Grayscale Bitcoin Trust (GBTC), which has been trading at a huge discount to find BTC prices for months, is heading in the ideal direction as that space lessens. According to Coinglass, the Grayscale premium, likewise called its discount, is -31.2%. It fell as low as -49% in December. Related: Volatility Shares Trust goes for listing of leveraged Bitcoin futures ETFIt remains unclear if the Securities and Exchange Commission will authorize a spot Bitcoin ETF, however the race is now on as a new age of filings has followed BlackRocks. WisdomTree, for the 3rd time, submitted with the SEC to create a spot Bitcoin ETF, just hours later Invesco renewed its application for a comparable product. On June 25, ETF Store President Nate Geraci tweeted his list of ETF companies that he “would watch on” as he thinks they will refile or file for a spot Bitcoin ETF based upon previous filings. Geraci called First Trust, VanEck, Global X, Fidelity, and what he called the “dark horse,” Schwab.Magazine: Unstablecoins: Depegging, bank runs and other risks loom

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Bitcoin (BTC) exchange-traded fund (ETF) eagerness is back with a raft of new applications and an increase in capital inflows from institutional investors.On June 26, a surge of inflows to the ProShares Bitcoin Strategy ETF (BITO)– a Bitcoin futures fund– was observed by Bloomberg senior ETF analyst Eric Balchunas.The fund had its largest weekly inflow in a year at $65.3 million with its assets topping $1 billion.BITO was the first BTC-linked ETF in the United States and is one of the most popular amongst institutional investors.Balchunas claimed BITO “pretty much has tracked Bitcoin completely,” lagging area prices by 1.05% every year and has a fee of 0.95%. Theres been an uptick in Bitcoin derivatives interest across the board since BlackRock filed for its own Bitcoin ETF on June 15. On June 25, ETF Store President Nate Geraci tweeted his list of ETF companies that he “would keep an eye on” as he thinks they will refile or submit for an area Bitcoin ETF based on past filings.

Bitcoin (BTC) exchange-traded fund (ETF) eagerness is back with a raft of new applications and a boost in capital inflows from institutional investors.On June 26, a rise of inflows to the ProShares Bitcoin Strategy ETF (BITO)– a Bitcoin futures fund– was observed by Bloomberg senior ETF expert Eric Balchunas.The fund had its largest weekly inflow in a year at $65.3 million with its properties topping $1 billion.BITO was the first BTC-linked ETF in the United States and is among the most popular among institutional investors.Balchunas claimed BITO “practically has tracked Bitcoin perfectly,” lagging spot prices by 1.05% each year and has a cost of 0.95%. The Bitcoin Futures ETF $BITO had its greatest weekly inflow in a year as properties top $1b once again. It also traded half a billion in shares on Friday, which its just done about 5 times before through @SirYappityyapp pic.twitter.com/Xrq0lUaaTO— Eric Balchunas (@EricBalchunas) June 25, 2023