This week, ProShares Bitcoin Strategy ETF’s (BITO), a bitcoin-futures fund available in the U.S., reached a new record of $1.47billion in assets under management.

BTC Price Index and Live Chart – CoinDesk”>(BTC) from regulated and accredited investors, as a flurry of bitcoin spot ETF applications were filed in the U.S.

BITO is a regulated investment product that’s listed on the Chicago Mercantile Exchange.

Simeon Hyman said, “Investors demand for BITO is strong as evidenced by the ETF’s new high in assets managed,” in a CoinDesk statement. “We think this shows that investors are looking for a familiar and accessible way to track bitcoin returns.”

Hyman said that “BITO has an average daily trading volume since its inception of $160M, placing it in the top 5% among all U.S. exchange-traded funds.”

(ProShares) Bitcoin holdings (ProShares)

BITO, unlike some other Bitcoin futures ETFs closely tracks the asset’s spot price, which is likely to have added to its appeal among traders. Investors poured more than $65m in one week in June. This was the biggest inflow of the year, and broke a previous record set in April 2023, which had been just over $40m.

Bitcoin prices have risen in recent months, as investment giants such as BlackRock and Fidelity await approval from U.S. regulators for the offer of bitcoin spot ETFs to their clients. This move is widely expected to increase demand for the asset.

Bitcoin was trading at just under $37,600 on Thursday morning. This is a 1.6% drop in the last 24 hours.

Sandali Handagama is the editor.