Technology

Bitcoin Spot ETF Flows Eclipse Once Dominant Futures-Linked Fund

New US spot Bitcoin ETFs wooed over $10 billion in flows
That’s overshadowing the ProShares Bitcoin futures ETF

Scaramucci on Coinbase, Gensler and Bitcoin Forecast

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By Sidhartha Shukla

February 15, 2024 at 10:00 AM UTC

This article is for subscribers only.

The $2 billion ProShares Bitcoin Strategy portfolio used to be the preeminent exchange-traded fund tied to the cryptocurrency. The outlook for the futures-based ETF is now more complicated as rival funds muscle in.

Nine new ETFs investing directly in the largest digital asset debuted on Jan. 11 in the US, attracting over $10 billion of inflows so far. BlackRock Inc. and Fidelity Investments are among the issuers vying for customers, in part with lower fees compared with the ProShares product.