BITO Bitcoin ETF Becomes Fastest ETF Ever To Hit $1 Billion AUM

Bitcoin Magazine

  • ProShares bitcoin-linked ETF hit $1 billion in assets under management in just two days, a record for the ETF industry.
  • Gold ETF GLD held the previous record, having crossed the $1 billion mark in three days after it launched in 2004.
  • A second bitcoin futures ETF is set to launch next week.

The ProShares Bitcoin Strategy ETF ($BITO), the first bitcoin-linked exchange-traded fund in the U.S., has become the fastest ETF ever to reach the $1 billion mark in assets under management (AUM).

It took the previous record holder, the gold ETF GLD, three days to cross through the ten digits and $BITO has done it in only two. Since going live yesterday, the fund has traded over $2 billion in volume.

How To Get Free Crypto  

BITO went live yesterday as an alternative investment vehicle for retail and institutional investors interested in indirect bitcoin exposure. The fund invests in bitcoin futures contracts, rather than actual BTC, and thus price appreciation of the fund’s shares may not track the bitcoin spot market price.

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.