The influx of funds to the Futulary ETF on Bitcoin Bito reached an annual maximum – Bits Media

Over the past week, institutional investors have invested in the futures ETF on the Bitcoin Proshares Bitcoin Strategy ETF (Small) $65,3 million, And the total capitalization has reached $1 billion is a record for 12 months.

The BITO Foundation was the first Futures of ETF for Bitcoin in the United States and remains the most popular of such products among institutional investors. As noted by the senior analyst at the ETF publication Bloomberg Eric Balchunas (Eric Balchunas), The fund shows itself as a reliable tool, whose shares are clearly followed by the spare price of BTC. Since the beginning of the year, investors in the Bito action have made a profit in 59,6%.

Analysts think, that the reason for the growth of the popularity of the Fund was the submission by BlackRock applications for launching a spotal ETF to Bitcoin. Then four more firms submitted similar applications.

BlackRock's application stirred the cryptocurrency market, And the Bitcoin course pushed away from $25 000 And exceeded the level $30 000. Many analysts think, that it is the application of the largest asset management company that will be the first, which will approve the US Securities and Exchange Commission (SEC). Some representatives of the industry, that the crypto is on the threshold of a long bull cycle.

Recall, that the Bito Foundation was launched 19 October 2021 year at the NYSE Arca site. For the first day, the volume of trading shares exceeded $1 billion.