Bitcoin ETF

Bitcoin

Billion

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/proshares-bitcoin-strategy-etf-surpasses-2-billion-valuation/" data-wpel-link="internal">ProShares Bitcoin Strategy ETF Surpasses $2 Billion Valuation</a> 
While the crypto world is focused on the decision to be made by the United States Securities and Exchange Commission (SEC) regarding spot <a href="https://en.coin-turk.com/positive-signal-for-btc-price/" data-wpel-link="internal">Bitcoin</a> ETFs, there has been significant activity in the exchange-traded futures Bitcoin ETFs. Accordingly, the value of the futures Bitcoin exchange-traded fund (ETF) ProShares Bitcoin Strategy ETF (BITO) has exceeded $2 billion, reaching an all-time high. 
<h2 style="text-align: justify" id="strong-proshares-global-investment-strategist-comments-on-the-latest-situation-in-bito-strong">ProShares’ Global Investment Strategist Comments on the Latest Situation in BITO</h2> 
ProShares’ global investment strategist Simeon Hyman stated to The Block that the fund’s value reached $2.010 billion at the close of the trading session on January 8th. Hyman added that BITO’s value grew by 10% in the last week from $1.8 billion on January 2nd and by 18% in the last month from $1.7 billion on December 9, 2023. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-300458" src="https://coin-turk.com/wp-content/uploads/2024/01/Spot-Bitcoin-ETF-ProShares-Bitcoin-Strategy-ETF.jpeg" alt="" width="1280" height="720"> 
Hyman said, “Many people point to speculation about the spot Bitcoin ETF as the driving force behind Bitcoin’s price rise, but it’s important to note that Bitcoin has risen for much of 2023 despite banking issues related to the crypto market in March, a rising interest rate environment, and other problems at crypto exchanges.” 
ProShares’ global investment strategist also added, “At the same time, the growing interest in Bitcoin suggests that short-term investment in cryptocurrencies can be quite difficult and expensive. BITI and SETH are the only ETFs in the US available through brokerage accounts that offer investors the opportunity to profit when the price of Bitcoin or Ethereum falls, based on futures for short Bitcoin and short Ethereum, respectively.” 
<h2 style="text-align: justify" id="strong-ark-invest-sold-coinbase-shares-and-bought-bito-strong">Ark Invest Sold Coinbase Shares and Bought BITO</h2> 
Cathie Wood’s Ark Invest made headlines in December 2023 by selling over $200 million worth of Coinbase shares through its ETFs. The company followed this move by purchasing $92 million worth of BITO at the end of December. 
Data shows that BITO’s daily trading volume on January 8th was at the level of $811.13 million. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/proshares-bitcoin-strategy-etf-surpasses-2-billion-valuation/" data-wpel-link="internal">ProShares Bitcoin Strategy ETF Surpasses $2 Billion Valuation</a></h5>

ProShares Bitcoin Strategy ETF Surpasses $2 Billion Valuation

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