Bitcoin Futures ETF Sees Record Inflows Amid ETF Race

ProShares' Bitcoin Strategy ETF (BITO) recorded the highest weekly inflow in over a year as bitcoin prices breached the $30,000 level, with investors pouring in $65 million in the past week. BITO allows investors to gain exposure to bitcoin-linked returns with a regulated product and holds over $1 billion worth of CME Bitcoin Futures. The buying pressure likely indicates interest in bitcoin exposure among institutional investors closely on the back of a bitcoin ETF frenzy in the U.S., with BlackRock's filing for a spot bitcoin ETF spurring a bullish outlook for bitcoin among some traders.