Bitcoin ETF fever returns: 'Biggest' inflow to ProShares' BITO in a year

Bitcoin exchange-traded fund fervor is back with a raft of new applications and an increase in capital inflows from institutional investors.

On June 26, a surge of inflows to the ProShares Bitcoin Strategy ETF — a Bitcoin futures fund — was observed by Bloomberg senior ETF analyst Eric Balchunas. The fund had its largest weekly inflow in a year at $65.3 million with its assets topping $1 billion. BITO was the first BTC-linked ETF in the United States and is one of the most popular among institutional investors.

Balchunas claimed BITO “pretty much has tracked Bitcoin perfectly,” lagging spot prices by 1.05% annually and has a fee of 0.95%.

According to the Deribit crypto options exchange, Bitcoin futures open interest (OI) has surged since last week. It is currently $319 million as of June 25, up around 30% from the same period last week.

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