There is huge interest in the first BTC ETF, even if “only” futures. On the second day of trading, ETF managed to break the 18-year-old record of the fastest fund, which surpassed $ 1 billion according to AUM.
BTC Futures ETF from ProShares has become the fastest fund to reach $ 1 billion in managed assets (AUM). ETF did so less than two days after the start of trading under the BITO ticker on the NYSE on Tuesday, October 19.
According to Bloomberg analyst Eric Balchunas, “BITO” easily outperformed the previous record holder, the ETF gold fund with the ticker “GLD”, which took almost three days to reach the $ 1 billion mark in 2004.
RECORD BREAKER: $ BITO assets up to $ 1.1b after today, making it the fastest ETF to get to $ 1b (2 days) breaking $ GLD’s 18yr old record (3 days), which is poetically apropos. https://t.co/yGXyfwaogD
– Eric Balchunas (@EricBalchunas) October 20, 2021
Balchunas stated in a “tweet” that it was poetically appropriate, which apparently indicated that BTC was really becoming a new digital gold. This is how the Fed recently commented in a shocking way on it or the well-known investor Paul Tudor Jones, who is convinced that BTC is currently a new type of gold from the point of view of investors.
“I’ve never seen anything like it. I bet they’re shocked at ProShares too, “ said Balchunas and continued:“If BITO maintains this pace of inflows, it will have no futures to buy until the end of the month due to position limits.”
In addition to setting a new record for AUM in excess of $ 1 billion, ProShares’ BTC ETF set a natural organic trading record of $ 1 billion after the first day, according to Balchunas. The next day, more than $ 2 billion was traded together.
Valkyrie is still waiting for permission
A Bloomberg analyst continues to expect the SEC to grant permission and applications in the coming hours to Valkyrie, which has added a somewhat smiling or provocative name, “BTFD,” to its BTC Futures ETF. Balchunas expected Valkyrie to launch its fund on NASDAQ on Wednesday or Thursday, but corrected it on Twitter himself when he said:
I had said this was launching tmrw it’s actually going to be on Friday. sorry about that. https://t.co/fqaGwjgscO
– Eric Balchunas (@EricBalchunas) October 20, 2021
In addition to ProShares and Valkyrie, another applicant VanEck, which has already obtained approval from the SEC. VanEck is also awaiting an opinion from the SEC on an application for a traditional spot BTC ETF, on which the commission must comment by 14 November.
