The largest Bitcoin ETF has achieved a milestone, surging past $2 billion!

While anticipation builds for a spot Bitcoin ETF, ProShares' Bitcoin Strategy ETF (BITO) in futures has set a new record by amassing over $2 billion in assets. Amid speculation about the approval of spot Bitcoin ETF applications, the fund experienced a remarkable 10% growth within a week, surpassing its previous peak of $1.8 billion on January 2. Over the past month, since its high of $1.7 billion on December 9, 2023, the fund has seen an 18% increase.

ProShares global investment strategist Simeon Hyman emphasized the resilience of Bitcoin, stating, "Even amidst challenges such as crypto-related banking crises and rising interest rates, Bitcoin is anticipated to thrive in 2023." He also noted the growing interest in Bitcoin and suggested that short-term exposure to cryptocurrencies might be challenging and costly. For those seeking opportunities to profit from declining bitcoin or ether prices, BITI and SETH, futures-based short bitcoin and short ether ETFs, are available in brokerage accounts.

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