As the CME’s Volume Gets Pumped, the Bitcoin ETF’s Quirky Structure Could Explai

[Tanimariya]

If one wants exposure to bitcoin, the purest play is buying bitcoin itself. Everything else comes with its own idiosyncrasies. Last week’s launch of the ProShares Bitcoin Strategy ETF (BITO) was a smash hit by any measure. Yet, it may be that at least part of its success could be the result of how the instrument is structured rather than pure demand from buyers hoping for bitcoin exposure.

In just a few hours, the futures-focused exchange-traded fund (ETF) amassed $570 million in assets under management (AUM), making it one of the most successful debuts of an ETF in history. Within a few more hours, that number just about doubled. Source Link