ProShares lifts exposure in Bitcoin ETF to a record 28,000 BTC

The volume of ProShares contracts on CME for the Bitcoin-futures-based ETF (BITO) exceeded the equivalent of 28,000 BTC. This was a record high since its launch in October 2021, according to Arcane Research analysts.

According to Arcane Research, the total bitcoin exposure in ProShares ETF trading under the ticker BITO on the New York Stock Exchange has climbed to a new all-time high above 28,000 BTC after having seen two weeks of strong inflows. https://t.co/QIn1hKwGRa pic.twitter.com/MyHIfqzb3b

— Wu Blockchain (@WuBlockchain) March 25, 2022

Two weeks of inflows into the fund preceded the new all-time high in the measure.

Analysts noted that the prevailing situation could force market makers to increase bitcoin purchases on the spot market in an effort to achieve delta neutrality.

Specialists warned of a rollover this week of 3,846 March futures contracts. This is often accompanied by outflows from Bitcoin ETFs. On March 21, ProShares carried out these actions with respect to 437 contracts, but the fund’s AUM rose by 225 BTC.

“Interest in Bitcoin through traditional investment mechanisms is increasing”, the analysts concluded.

As of March 25, BITO held Bitcoin futures equivalent to 36,271.8 BTC. According to Glassnode, inflows over two weeks totaled 2,473.5 BTC.

According to data from glassnode, the first ETF in North America, the Purpose Bitcoin ETF, holds a new high in the number of Bitcoins. Currently, the ETF holds 36,271.8BTC, and has a net increase of 2,473.5BTC in the past two weeks. pic.twitter.com/FyedtobQTz

— Wu Blockchain (@WuBlockchain) March 25, 2022

BITO showed the second-most active debut.

Earlier, Bitwise Asset Management CIO Matthew Hougan doubted that such instruments are suitable for long-term investors.

Subscribe to ForkLog news on Telegram: ForkLog Feed — all the news, ForkLog — the most important news, infographics and opinions