Bitcoin Exposure of ProShares’ BITO Hits All-Time High, Crypto ETFs Garner Record Inflows

The post Bitcoin Exposure of ProShares’ BITO Hits All-Time High, Crypto ETFs Garner Record Inflows appeared first on Coinpedia Fintech News

ProShares’ Bitcoin Strategy ETF (BITO) has reached a new record high with 4,425 BTC in exposure, as crypto investors flock to Bitcoin exchange-traded products. Global ETPs, according to K33 Research, have seen a remarkable increase of 25,202 BTC ($757 million) in just four weeks until July 16, making it the second-highest monthly inflow. Although the SEC has created challenges for recording crypto-based ETFs, Europe offers a range of ETPs from various issuers. BITO offers regulated access to bitcoin returns and currently holds over $1 billion in CME Bitcoin Futures.