ProShares's Bitcoin ETF reached over $1B in inflows in its first two days of trading, showing significant pent-up demand for bitcoin from investors who were unable to purchase the cryptocurrency directly.
- Trading volume on Wednesday was over $1.2B and it's estimated that ProShares Bitcoin Strategy ETF has $1.1B under management at the moment. This is the fastest ETF in history to reach $1B in assets under management, per Bloomberg Intelligence.
- The strong demand was part of the reason bitcoin hit a new all-time high yesterday, and many investors predict the price will surge to $100,000 in the short term.
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