Bitcoin Futures ETF Surges Past $1 Billion Amid Spot ETF Race

$BITO’s Strong Performance

According to Eric Balchunas, Senior ETF Analyst for Bloomberg, $BITO had its largest weekly inflow in a year, accompanied by a notable trading volume of half a billion shares on Friday. Despite concerns about the impact of futures roll costs on $BITO’s performance, it has demonstrated an impressive ability to track the price of Bitcoin closely.

advertisement

Image

Adding to it, Eric said:

It’s lagged spot by 1.05% ann, but it’s fee is 0.95% = only 10bps of roll (extra) costs, which is rounding error. Many predicted >5% a yr.

Recommended Articles
ethereum price crypto news
Crypto Presale Projects For 2023 To Invest; Updated List
Must Read
crypto exchange affiliate programs
Best Crypto Exchange Affiliate Programs In 2023
Must Read
ethereum price crypto news
Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated]
Must Read
ethereum price crypto news
Crypto Telegram Channels List 2023 [Updated]
Must Read
ethereum price crypto news
Top 10 Web3 Games To Explore In 2023; Here List
Must Read
– Eric Balchunas, June 26, 2023

According to ProShares, Year-to-date, $BITO has been a standout performer, delivering impressive returns of 59.58% in market price and 59.62% in NAV. Looking at the three-month and six-month performance figures, $BITO has demonstrated substantial growth. With returns of 14.04% over both periods, investors who have held the fund for these durations would have experienced positive gains.

The Race for a Spot Bitcoin ETF

The recent surge in interest in Bitcoin derivatives can be attributed, at least in part, to the filing of a Bitcoin ETF by BlackRock on June 15. While it remains uncertain whether the SEC will approve a spot Bitcoin ETF, BlackRock’s move has triggered a race among various firms to file their own applications.

CoinGape reported that WisdomTree, for the third time, has filed with the SEC to create a spot Bitcoin ETF, and Invesco has renewed its application for a similar product.

The approval of a spot Bitcoin ETF would provide institutional and retail investors with a more accessible and regulated avenue for investing in cryptocurrencies.

 

Mooky Presale
Mooky Coin Presale
$MOOKY is a meme token which helps planting trees by donating to charity.
Visit Here
AD

Comments

Post a Comment

Popular posts from this blog

Here’s the Obvious Use Case for Crypto, According to Solana Creator Anatoly Yakovenko

Image
Anatoly Yakovenko, co-founder of smart contract platform Solana (SOL), is naming what he says is an “obvious” use case for crypto and blockchain. In a new interview with Austin Federa, head of strategy at the Solana Foundation, Yakovenko says simple payments are one obvious use case for digital assets that anyone can benefit from. 46:52 “I’m actually more focused on trying to do stuff that’s obvious today. I think that’s just really important, to try to get users to go do the things that already work at scale – and those are payments. Very simple kind of thing – let’s send money to each other in a cheap and fast way without [going] around the world.” According to Yakovenko, crypto assets could help simplify finance over the internet as well as let content creators work for themselves rather than be tied to the financial systems of their hosts. 48:57 “[Crypto payments are] just such a better experience for anyone that generates user con...
Read more

Terra Luna Price Prediction as LUNA Falls 10% in 24 Hours - Here's Where LUNA is Headed Next

Image
Source: TradingView The Terra Luna price has dopped to $2.00 today, with the altcoin falling by as much as 10% in the past 24-hour period. Its current level represents an 11% fall in a week, although it remains up by 58% in the last 30 days, making it one of the best-performing coins in the top-100 cryptocurrencies by market cap. LUNA's fall today follows news that Binance has updated the 'risk warning' it gives to customers when they trade the altcoin, with the exchange now advising users that the "token has been the subject of negative news/coverage recently." Despite this being a relative improvement over its previous warning, the change has nonetheless underlined the possibility that LUNA will never be considered a 'normal' or 'safe' cryptocurrency, and therefore may not be able to return to its former heights. Terra Luna Price Prediction as LUNA Falls 10% in 24 Hours - Here's Where LUNA is Headed Next LUNA's chart a...
Read more

The Bank of Spain welcomes the “digital euro” and outlines its advantages.

Image
In the realm of crafting content, three key elements stand out: “perplexity,” “burstiness,” and “predictability.” Perplexity, the yardstick of textual intricacy. Burstiness, the gauge of sentence diversity. Predictability, the measure of foreseeing the next sentence. Typically, human authors infuse their work with bursts of creativity, combining lengthy and intricate sentences with concise ones. In contrast, AI-generated content often leans towards uniformity. Thus, in the forthcoming content you’ll create, we seek a substantial dosage of perplexity and burstiness while keeping predictability at a minimum. The medium of expression is English, exclusively. Now, let’s rework the provided text: The digital euro, according to this proclamation, is poised to revolutionize electronic payments, becoming an indispensable cornerstone of the financial landscape. In a resounding chorus, Banco de España, the central bank of Spain, joins its Europea...
Read more