{"id":80734,"date":"2023-06-26T10:10:12","date_gmt":"2023-06-26T07:10:12","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80734"},"modified":"2025-09-11T18:44:43","modified_gmt":"2025-09-11T15:44:43","slug":"weekly-inflows-into-proshares-bitcoin-futures-etf-hit-a-2023-record","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/weekly-inflows-into-proshares-bitcoin-futures-etf-hit-a-2023-record\/","title":{"rendered":"Weekly inflows into ProShares Bitcoin Futures ETF hit a 2023 record"},"content":{"rendered":"<p>Total inflows into ProShares&#8217; Bitcoin-<a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a> over the past week amounted to $65.3 million. According to Bloomberg analyst Eric Balchunas, this is the largest figure of the year so far.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The Bitcoin Futures ETF <a href=\"https:\/\/twitter.com\/search?q=%24BITO&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BITO<\/a> had its biggest weekly inflow in a year as assets top $1b again. It also traded half a billion in shares on Friday, which it&#8217;s only done about 5 times before via <a href=\"https:\/\/twitter.com\/SirYappityyapp?ref_src=twsrc%5Etfw\">@SirYappityyapp<\/a> <a href=\"https:\/\/t.co\/Xrq0lUaaTO\">pic.twitter.com\/Xrq0lUaaTO<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1673106982365003782?ref_src=twsrc%5Etfw\">June 25, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Assets under management in the ProShares Bitcoin Strategy (BITO) ETF again topped $1 billion. Trading volume exceeded half a billion shares, something that had happened only five times in history, the analyst added.<\/p>\n<p>The analyst noted that the ETF \u201cin large measure tracks the dynamics of the leading cryptocurrency.\u201d The premium to the spot price on an annualized basis does not exceed 1.05% (many had expected it to be above 5%), and the management fee is 0.95%.<\/p>\n<p>Demand for BITO has been boosted by BlackRock&#8217;s filing and several other firms with the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> to launch a spot ETF based on the first cryptocurrency. On this backdrop, the price of digital gold rose above $30,000.<\/p>\n<p>According to <a href=\"https:\/\/metrics.deribit.com\/futures\/BTC\"> Deribit<\/a>, open interest in Bitcoin futures for the week rose 30%, to $319 million.<\/p>\n<p>According to <a href=\"https:\/\/www.coinglass.com\/pro\/gray\/GrayscalePremium\"> Coinglass<\/a>, the discount to NAV for <span data-descr=\"Grayscale Bitcoin Trust\" class=\"old_tooltip\">GBTC<\/span> narrowed to 31.32%. At its peak in December 2022 it reached 48.89%.<\/p>\n<p>Earlier, the trading turnover of Grayscale Investments<a href=\"https:\/\/forklog.com\/en\/news\/grayscale-bitcoin-trust-trading-volume-surges-fivefold\">&#8216;s Bitcoin Trust<\/a> jumped 400%, from $16.1 million to $80 million.<\/p>\n<p>Earlier, Eight founder Micha\u00ebl van de Poppe said the bull market for the leading cryptocurrency had begun, with a target of $40,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg: total inflows into the ProShares Bitcoin Futures ETF over the past week amounted to $65.3 million, the highest this year.<\/p>\n","protected":false},"author":1,"featured_media":80735,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,825,1211],"class_list":["post-80734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-proshares","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=80734"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80734\/revisions"}],"predecessor-version":[{"id":80736,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80734\/revisions\/80736"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/80735"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=80734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=80734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=80734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}