The ProShares Bitcoin ETF has beaten an 18-year-old record for the fastest fund to a billion-dollar AUM. Since the ProShares Bitcoin Strategy ETF started trading this week, it has become the fastest fund ever to reach $1 billion in assets under management (AUM). The highly anticipated launch of the first Bitcoin (BTC) futures exchange-traded fund (ETF) in the United States, BITO, has resulted in a number of milestone achievements.
Bloomberg senior ETF analyst Eric Balchunas reported that the fund was the quickest ever to reach a 10-figure AUM after just two days of trading. BITO easily surpassed the previous record-holder, a gold-based fund with the ticker GLD, which took three days to hit the billion-dollar mark in 2004.
He commented that this was “poetically apropos,” presumably in reference to Bitcoin’s store of value properties and comparison to digital gold. Balchunas exclaimed, “I’ve never seen anything like this. I bet ProShares is even shocked,” while retweeting a post by Bloomberg Intelligence research analyst James Seyffart, who updated the original chart.
Balchunas commented that there may not be any contracts left to buy if this volume continues, referring to a post by The ETF Store President Nate Geraci stating that nearly 45% of BITO exposure is now in November futures contracts.
“If $BITO keeps up this pace of inflows it won’t have any futures left to buy by the end of the month due to pos [position] limits.”
The ProShares fund also broke the record for the highest-ever first day of organic volume, which hit $1 billion on Tuesday when it launched. More than 24 million shares were traded during its debut day, and since the ETF went live, it has now traded more than $2 billion in volume. Related: VanEck Bitcoin Strategy ETF will likely launch next week as crypto prices reach ATHs
Balchunas has predicted that the next Bitcoin futures fund launch will be on Friday. This is likely to be the Valkyrie Bitcoin Strategy ETF, which is changing its ticker back to BTF in preparation. In crypto circles, the former ticker BTFD also referred to as “buy the f---ing dip,” which may not have gone down too well with the U.S. Securities and Exchange Commission. The momentum has driven Bitcoin prices to a new all-time high of $67,276 on Wednesday, according to CoinGecko. At the time of writing, the asset had retreated slightly to change hands around the $65,230 mark.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | BTC | Bitcoin predictions | 84% | 26 | $66 773.23 | 0.18% | 7.06% | $1 314 710 337 779 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ETH | Ethereum predictions | 75.6% | 48 | $3 237.39 | 0.97% | 6.48% | $395 104 432 408 | ||
3 | USDT | Tether predictions | 94.8% | 1 | $1.000316 | -0.02% | 0% | $109 874 941 393 | ||
4 | BNB | Binance Coin predictions | 84.8% | 22 | $610.24 | 1.73% | 14.63% | $91 250 989 887 | ||
5 | SOL | Solana predictions | 68% | 64 | $159.52 | 2.37% | 20.96% | $71 314 526 201 | ||
6 | USDC | USD Coin predictions | 90.8% | 2 | $1.000074 | 0% | 0% | $33 853 658 998 | ||
7 | XRP | XRP predictions | 72.8% | 60 | $0.552108 | 1.24% | 11.57% | $30 437 224 685 | ||
8 | DOGE | Dogecoin predictions | 71.2% | 54 | $0.162254 | 0.66% | 6.08% | $23 365 464 220 | ||
9 | TON | Toncoin predictions | 69.6% | 60 | $5.73 | -4.85% | -6.82% | $19 873 789 996 | ||
10 | ADA | Cardano predictions | 72.8% | 60 | $0.506916 | -2.37% | 12.47% | $18 061 873 468 | ||
11 | SHIB | SHIBA INU predictions | 59.2% | 82 | $0.000027 | 1.87% | 22.93% | $16 123 176 503 | ||
12 | AVAX | Avalanche predictions | 72.4% | 59 | $39.05 | -0.67% | 15.00% | $14 762 272 929 | ||
13 | DOT | Polkadot predictions | 72% | 57 | $7.40 | -0.68% | 12.60% | $10 630 052 761 | ||
14 | WBTC | Wrapped Bitcoin predictions | 84.8% | 25 | $66 801.35 | 0.31% | 6.82% | $10 379 842 547 | ||
15 | STETH | Lido stETH predictions | 94% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2024 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.