Bitcoin futures ETF hits $1B AUM in a record-breaking two days

Gordon James


Buy and Sell Crypto

The Bitcoin futures market has grown immensely in value and popularity.

The “what are etfs stocks” is a type of security that allows investors to bet on the future price of an asset. The Bitcoin futures ETF has hit $1B AUM in two days, which is a record-breaking amount.


Since it began trading this week, the ProShares Bitcoin Strategy ETF has been the quickest fund to surpass $1 billion in assets under management (AUM).

The highly anticipated debut of BITO, the first Bitcoin futures exchange-traded fund in the United States, has yielded a slew of firsts.

After only two days of trading, the fund became the fastest to achieve a ten-figure AUM, according to Bloomberg senior ETF analyst Eric Balchunas. The previous record holder, a gold-based fund with the ticker GLD, which took three days to reach the billion-dollar milestone in 2004, was quickly beaten by BITO.

He said it was “poetically fitting,” likely referring to Bitcoin’s qualities as a store of wealth and its similarity to digital gold.

RECORD BREAKER: $BITO assets have risen to $1.1 billion as of today, making it the quickest ETF to reach $1 billion in two days, eclipsing $GLD’s 18-year-old record of three days, which is poetically appropriate.

October 20, 2021 — Eric Balchunas (@EricBalchunas)

“I’ve never seen anything like this,” Balchunas said. While retweeting a post by Bloomberg Intelligence research analyst James Seyffart, who updated the original graphic, he said, “I bet ProShares is even astonished.”

If this activity continues, Balchunas speculated that there may be no contracts remaining to purchase, citing a statement by ETFStore President Nate Geraci noting that roughly 45 percent of BITO exposure is already in November futures contracts.

“If inflows continue at this rate, $BITO will run out of futures to purchase by the end of the month owing to pos [position] limits.”

The ProShares fund also set a new record for the highest-ever first-day organic volume of $1 billion when it opened on Oct. 19. More than 24 million shares were exchanged on its first day, and the ETF has already moved over $2 billion in activity since it went online.

As crypto values hit new highs, the VanEck Bitcoin Strategy ETF is expected to debut next week.

The second Bitcoin futures fund, according to Balchunas, will be launched on Friday. This is most likely the Valkyrie Bitcoin Strategy ETF, which is reverting to BTF in preparation. The previous ticker BTFD was also known in crypto circles as “buy the f*cking dip,” which may not have gone down well with the SEC.

I originally said that this would be released tomorrow, but it will now be released on Friday. Sorry for the inconvenience.

October 20, 2021 — Eric Balchunas (@EricBalchunas)

According to CoinGecko, Bitcoin prices reached a new all-time high of $67,276 on October 20. The asset has declined marginally at the time of writing, changing trades around the $65,230 level.

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