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ProShares Increases Position in its BITO Bitcoin-ETF to Around 28,000 Bitcoins

ProShares Increases Position in its BITO Bitcoin-ETF to Around 28,000 Bitcoins

ProShares has purchased CME contracts for its Bitcoin futures exchange-traded fund (BITO) in excess of the equivalent of 28,000 BTC. This is the highest value since its launch in October 2021, according to Arcane Research analysts.

The new all-time high of the indicator has been preceded by two weeks of funds flowing into the fund.

The company analysts have noted the current situation may force market makers to increase purchases of bitcoins in the spot market in an effort to achieve delta neutrality.

Specialists have warned that 3,846 March futures will roll this week. This is often accompanied by an outflow of funds from the Bitcoin ETF. On March 21, ProShares did this for 437 contracts, but the fund’s assets under management (AUM) rose by 225 BTC.

BITO made its second most active debut.