Interest in ProShares’ BITO Bitcoin ETF is growing with each passing day, BITO has created a weekly fund inflow of $65 million.
The Exchange Traded Fund (ETF) trend, which is rapidly taking the crypto industry up, has come to the fore with the frequent involvement of institutional and individual investors in the market. On June 26, senior ETF analyst Eric Balchunas observed an increase in inflows to the ProShares Bitcoin Strategy ETF (BITO), a BTC futures fund. BITO had its biggest weekly entry in a year with $65.3 million in assets exceeding $1 billion.
News Flow Reflects Positively on the Market
When we consider the recent developments, BTC, which has reached $ 31,500 from $ 24,800, has caught a lot of excitement with companies applying for ETFs. BlackRock, who was a pioneer in this process for the ETF issue, became one of the cornerstones in rescuing BTC from a critical price band and exceeding $30,000. After BlackRock, many companies applied for the BTC ETF, pushing the market up.
BTC, which has increased by 24 percent in total since June 15, greened the markets in a short time. With the succession of ETF news, the leader of cryptocurrencies, which has an upward trend, continues to price under the influence of the news flow.
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