BITO hits asset peak as possible spot bitcoin ETF approval looms

The first and largest bitcoin futures ETF is the biggest it’s ever been. 

The ProShares Bitcoin Strategy ETF (BITO) reached $1.47 billion assets under management on Tuesday — its highest mark ever.

BITO had quickly grown above $1 billion in assets after launching in October 2021, reaching as high as $1.42 billion in assets the following month, according to 

But the fund’s assets had sunk to as low as about $500 million in November 2022 amid the collapse of crypto exchange FTX — an event that spurred bitcoin price declines. 

BITO AUM chart

Its assets under management stood at $850 million as recently as Oct. 12, the YCharts data shows. The fund has seen net…

Read more on Blockworks

24.7K Reads