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Too popular: Bitcoin futures ETF in danger of hitting upper limit for contracts
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The ProShares Bitcoin Strategy ETF is on track to reach a limit on the number of futures contracts it’s allowed after quickly becoming a little too popular.
After just a couple of days of trading, the ProShares ETF has reached 1,900 contracts sold for October and there is 2,000 front-month limit imposed by the Chicago Mercantile Exchange.
There are already 1,400 contracts for November and there is an overall maximum limit of 5,000 open contracts according to Bloomberg. One solution could be to offer longer contracts, but that would carry the danger of too much distancing from BTC prices.
President of the advisory firm the ETF Store, Nate Geraci, commented that the fund could start to diverge from market prices, adding:
The launch of competing
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