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The Bitcoin Futures ETF at 1: $1.8 Billion Lured, Over Half Lost

  • Poorly timed launch has seen fund’s price plunge more than 70%
  • Despite drop ETF saw inflows in all but two months since debut
BitBase Cryptocurrency Exchanges After Record Week For Volatility
Photographer: Angel Garcia/Bloomberg

A year on from its blistering debut, America’s first Bitcoin futures ETF has been an almost unqualified success, unless of course you’re invested in it. 

Operationally speaking, it’s performance has been near-flawless. A slew of worries over cryptocurrency volatility, the depth of the market for futures and the cost of rolling its underlying contracts have all fallen by the wayside in 12 months of solid functioning for the ProShares Bitcoin Strategy ETF (ticker BITO).