Cryptocurrencies
First Bitcoin ETF Is Already in Danger of Breaching a Limit on Futures Contracts
- Explosive debut means BITO is hoovering up futures contracts
- Arrival of competing funds could help alleviate pressure
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Just days after launch, the first U.S. Bitcoin futures exchange-traded fund risks becoming too popular for its own good.
The Proshares Bitcoin Strategy ETF (ticker BITO) is already on track to breach a limit on the number of futures contracts it is permitted to hold by the Chicago Mercantile Exchange, according to data compiled by Bloomberg.