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ProShares Bitcoin ETF leaves Gold behind after beating 18-year record
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ProShares Bitcoin ETF crossed over $1 billion in Assets under Management (AUM) within two days of its listing on 19 October, according to a report by Bloomberg.
Bloomberg Intelligence further revealed that no other exchange-traded fund has ever hit the $1 billion mark in terms of volume this quickly. It ranked BITO as the second “heaviest-traded ETF debut on record.” BITO was right behind BlackRock carbon fund, as the latter was backed by pre-seed investments for its first 24 hours of trading
While BITO was listed at a price of $40, it was trading close to $42.6, at press time.
The BTC futures ETF reportedly saw more than 24 million shares change hands in the first 24 hours. By Wednesday’s close, over 29 million units had been traded, the
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