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Trading Volume on Proshares Bitcoin ETF Tanks 75% As Focus Shifts To Spot ETFs
Activity in ProShares Bitcoin Strategy ETF (BITO), the world’s leading bitcoin (BTC) futures-based exchange-traded fund (ETF), has cooled significantly since the launch of ETFs directly investing in the cryptocurrency began trading in the U.S. on Jan. 11. On Thursday, BITO shares worth just over $500 million changed hands on the NYSE, a 75% slide from the record $2 billion registered on Jan. 11, according to data tracked by crypto exchange Coinbase. BITO has witnessed a net outflow of over $270 million over the same period, according to data source ETF.com. Meanwhile, 11 spot ETFs registered a cumulative trading ... (full story)