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Bitcoin Spot ETF Flows Eclipse Once Dominant Futures-Linked Fund
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. The futures-based ETF, whose ticker is BITO, has seen a $254 million net outflow since the spot rivals began trading, data ... (full story)