The oldest Bitcoin ETF in the US saw an uptick in weekly capital inflows as institutional investors seemingly had their interest revived by BlackRock’s application for a spot Bitcoin fund.
Bitcoin exchange-traded fund fervor 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 — 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 among institutional investors.
Balchunas claimed BITO “pretty much has tracked Bitcoin perfectly,” lagging spot prices by 1.05% annually and has a fee of 0.95%.
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