ProShares Bitcoin ETF Accumulates $1 Billion Of Assets In Two Days

The ProShares Bitcoin Strategy exchange traded fund (ETF) has accumulated more than $1 billion U.S. of assets in the two days since it began trading on the New York Stock Exchange.

The ProShares Bitcoin Strategy ETF ended trading on Wednesday (October 20) with $1.1 billion U.S. under management after trading volumes topped $1.2 billion U.S. That’s the quickest that an ETF has reached the $1 billion U.S. mark ever.

The U.S.-based Bitcoin ETF’s launch was met huge demand, ranking as the second heaviest-traded ETF debut on record. Data showed inflows of $567 million U.S. in its first trading session.

The enthusiasm surrounding the fund has helped propel the world’s largest cryptocurrency to an all-time high, with the price of Bitcoin now nearing $67,000 U.S. Other issuers are lining up to introduce their own products, with Bitcoin futures ETFs from VanEck and Valkyrie potentially coming to market later in October.

The Bitcoin futures ETF has climbed about 8.2% to $43.28 U.S. from its inception price of $40 U.S. earlier this week.