Bitcoin

Spot

Billion

<p>The post <a rel="nofollow" href="https://coinpedia.org/bitcoin/bitcoin-futures-etf-achieves-impressive-1-billion-mark-amidst-fierce-spot-etf-battle/">Bitcoin Futures ETF Achieves Impressive $1 Billion Mark Amidst Fierce Spot ETF Battle</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In a landmark moment that’s making waves in the world of cryptocurrency, the Bitcoin Futures ETF, known as $BITO, has witnessed a staggering surge in inflows. The asset pool has once again swelled past the $1 billion mark, an impressive achievement fueled by the mounting anticipation surrounding the potential approval of a spot Bitcoin ETF by the <a href="https://coinpedia.org/news/crypto-vs-sec-is-wall-streets-crypto-invasion-being-secretly-aided-by-gensler/">Securities and Exchange Commission (SEC)</a>.</p> 
<p>The past week saw $BITO rake in its largest weekly inflow in a year, accompanied by an impressive trading volume of half a billion shares on Friday alone. Eric Balchunas, Senior ETF Analyst for Bloomberg, pointed out the surprising resilience of $BITO. Despite worries over future roll costs, $BITO has remained steadfast, accurately tracking the price of Bitcoin.</p> 
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   <p lang="en" dir="ltr">The Bitcoin Futures ETF <a href="https://twitter.com/search?q=%24BITO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BITO</a> had its biggest weekly inflow in a year as assets top $1b again. It also traded half a billion in shares on Friday, which it's only done about 5 times before via <a href="https://twitter.com/SirYappityyapp?ref_src=twsrc%5Etfw">@SirYappityyapp</a> <a href="https://t.co/Xrq0lUaaTO">pic.twitter.com/Xrq0lUaaTO</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1673106982365003782?ref_src=twsrc%5Etfw">June 25, 2023</a>
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<p>The stats speak volumes about the commendable performance of $BITO. ProShares data reveals that year-to-date, $BITO has been a standout performer, delivering impressive returns of 59.58% in market price and 59.62% in NAV.</p> 
<p>When examining the three-month and six-month performance figures, $BITO’s growth trajectory remains robust. With returns of 14.04% over both periods, those investors who have held onto the fund for these durations have reaped positive gains.</p> 
<h2 class="wp-block-heading" id="h-the-starting-gun-fires-on-the-spot-bitcoin-etf-race"><strong>The Starting Gun Fires on the Spot Bitcoin ETF Race</strong></h2> 
<p>The spike in interest in Bitcoin derivatives can be traced back to <a href="http://v">BlackRock’s filing</a> of a Bitcoin ETF on June 15. This move, akin to firing the starting gun on a race, has spurred other firms into action, with each scrambling to file their own applications for a spot in Bitcoin ETF.</p> 
<p> <a href="https://coinpedia.org/news/breaking-wisdomtree-files-for-bitcoin-etf-following-blackrocks-lead/">WisdomTree</a> has thrown its hat into the ring for the third time, filing with the SEC to create a spot <a href="https://coinpedia.org/news/blackrock-and-fidelitys-spot-etf-approval-set-to-ignite-unprecedented-crypto-market-bull-run/">Bitcoin ETF</a>. Invesco has also renewed its application for a similar product.</p> 
<p>The green light for a spot Bitcoin ETF would represent a significant milestone for the world of cryptocurrency, offering institutional and retail investors a more accessible, regulated route for investing in cryptocurrencies.</p>

Bitcoin Futures ETF Achieves Impressive $1 Billion Mark Amidst Fierce Spot ETF Battle

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