After two days of trading, the BITO ETF from ProShares, the first bitcoin-linked ETF in the US, has assets of USD1.1 billion. BITO saw trading volume of over 29 million shares on Wednesday, representing over USD1.2 billion.
In an interview with ETF Express, BNY Mellon’s Ben Slavin predicted that BITO might hit the record books, beating the launch of GLD, the previous recordholder for first to USD1 billion.
Slavin described the BITO launch as the largest grass roots, investor-led ETF asset raise, demonstrating the pent up demand for bitcoin investment in ETF in the US.
BNY Mellon’s Slavin comments on ‘that’ launch and Grayscale’s step-up to convert to ETF