---
title: "ProShares Bitcoin Strategy ETF (BITO) Hits Record $2B in Assets Amid Spot ETF Anticipation"
url: https://diffcoin.com/proshares-bitcoin-strategy-etf-bito-hits-record-2b-in-assets-amid-spot-etf-anticipation/
description: "BITO's trading volume surged to BITO surpassed $800 million amid excitement over SEC's verdict on a spot Bitcoin ETF in the US."
published: 2024-01-11
updated: 2024-01-11
author: "Mila"
site: "Diffcoin"
---

# ProShares Bitcoin Strategy ETF (BITO) Hits Record $2B in Assets Amid Spot ETF Anticipation

The ProShares Bitcoin Strategy ETF (BITO) has witnessed a significant surge in its assets under management, approaching the $2 billion mark on January 8th, thereby registering an all-time high.

On the same day, the trading volume of the fund crossed $800 million.

- Launched in October 2021, BITO made history as the first-ever Bitcoin futures exchange-traded fund (ETF) in the United States.
- In the absence of spot Bitcoin ETFs, the popularity of products investing in BTC futures soared. Shortly after its launch, BITO swiftly reached $1 billion in assets, demonstrating the strong demand for crypto-related investment vehicles.
- However, the fund faced a setback in November 2022 when its asset base contracted to around $500 million following the collapse of the FTX crypto exchange.
- Recent months have seen a remarkable rebound for BITO, driven by substantial inflows amid a Bitcoin rally.
- The latest milestone comes amid increased anticipation of approval for spot Bitcoin ETFs in the US, which has fueled optimism and contributed to the renewed interest in BTC-related investment instruments.
- Last month, Cathie Wood’s ARK Invest liquidated nearly $45 million in GBTC shares and over $150 million in Coinbase stocks. A significant portion of the proceeds from the GBTC sale, totaling $100 million, was utilized to acquire Bitcoin Futures ETF BITO.
- Following the move, ARK became the second-largest holder of the BITO.

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[Source link](https://cryptopotato.com/proshares-bitcoin-strategy-etf-bito-hits-record-2b-in-assets-amid-spot-etf-anticipation/)