BlackRock and ProShares’ Bitcoin ETFs Surpassed GBTC’s Daily Volumes
GBTC has led bitcoin ETF volumes, mostly in outflows, since the products started trading in early January.
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GBTC has led bitcoin ETF volumes, mostly in outflows, since the products started trading in early January.
ProShares’ BITO now has $1.47 billion in holdings, as a flurry of bitcoin ETF applications in the U.S. seemingly spurs institutional interest in the asset.
The latest price moves in bitcoin (BTC) and crypto markets in context for August 2, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Interest on the ETF’s cash balances helps offset the cost of rolling from one set of futures to the next, ensuring a low tracking error, the firm said.