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Home Crypto News $BITO

Breaking: ProShares Bitcoin Futures ETF ($BITO) Becomes Fastest ETF in History to Reach $1 Billion

2 years ago
in $BITO, Bitcoin ETF, Bitcoin Futures ETF, Bitcoin News, BTCBRL, BTCBUSD, BTCDAI, BTCEUR, BTCGBP, BTCJPY, BTCKRW, BTCMXN, BTCNGN, BTCPAX, BTCRUB, BTCTRY, BTCTUSD, btcusd, BTCUSDC, BTCUSDT, BTCXRP, BTCZAR, CoinGape, Crypto News, News, ProShares
Reading Time: 3 mins read
Breaking: ProShares Bitcoin Futures ETF ($BITO) Becomes Fastest ETF in History to Reach  Billion
This article is added for educational purpose only. All credit goes to the respected author of this article. All In One Crypto App do not hold any liabilities of this article. You can get the source link at the end of the article content.

Bitcoin ETFBitcoin ETF

The first-ever Bitcoin ETF in the US by ProShares ($BITO) continues to shatter records for the second day in a row. After registering the second-highest trading volume for an ETF on Debut, $BITO has now become the fastest to accumulate $1 billion in assets that too within two days. ProShares started with $20 million in assets which grew over $500 million on the first day and breached $1 billion on the second day.

$BITO
Source: TradingView

Quite ironically $BITO has broken the record held by Gold ETF ($GLD) for nearly 18 years as it managed to gain $1 billion in assets in 3 days. The trading volume for $BITO topped $1 billion as well and accumulated assets reached $1.1 billion.

RECORD BREAKER: $BITO assets up to $1.1b after today, making it the fastest ETF to get to $1b (2 days) breaking $GLD’s 18yr old record (3 days), which is poetically apropos. https://t.co/yGXyfwaogD

— Eric Balchunas (@EricBalchunas) October 20, 2021

The ProShares Bitcoin Futures ETF created history after it became the first crypto-centered ETF to get the US SEC’s nod. $BITO’s approval has now paved way for Valkyrie Bitcoin Futures ETF as well which was approved by the SEC yesterday.

Bitcoin Breaks ATH on Back of $BITO’s Record Run

October was predicted to be the month of bulls after the crypto market suffered nearly 5-months of bearish consolidation. However, the approval of the first-ever Bitcoin ETF also played as a catalyst for the $BTC price. The top cryptocurrency that started the month under $45K managed recover all of its losses over the past five months in just two weeks’ time, and yesterday it managed to break the previous ATH of $64,683 as well.

$BTC recorded a new ATH of $66,930 yesterday as its market cap reached $1.25 trillion for the first time. The top cryptocurrency has seen a minor correction overnight from ATH and currently trading just under $65K.

$BITO
Source: TradingView

Having already surpassed the ATH, the remaining two months could be the price discovery mode for $BTC where it can repeat a similar feat as it did in 2017 December when the $BTC price rose nearly doubled in the last couple of weeks of December 2017.

The post Breaking: ProShares Bitcoin Futures ETF ($BITO) Becomes Fastest ETF in History to Reach $1 Billion appeared first on Coingape.

Source: Coingape

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