The ProShares Bitcoin ETF has beaten an 18-year-old record for the fastest fund to a billion-dollar AUM.
Since the ProShares Bitcoin Strategy ETF started trading this week, it has become the fastest fund ever to reach $1 billion in assets under management (AUM).
The highly anticipated launch of the first Bitcoin futures exchange-traded fund in the United States, BITO, has resulted in a number of milestone achievements.
Bloomberg senior ETF analyst Eric Balchunas reported that the fund was the quickest ever to reach a ten-figure AUM after just two days of trading. BITO easily surpassed the previous record holder, a gold-based fund with the ticker GLD, which took three days to hit the billion-dollar mark in 2004.
He commented that this was “poetically apropos,” presumably in reference to Bitcoin’s store of value properties and comparison to digital gold.