ProShares Futures Bitcoin ETF Hits ATH On Spot ETF Hype

Republished By Plato

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Amidst growing anticipation and hype around spot Bitcoin ETF, ProShares’ Future BTC ETF ‘BITO’ has hit a new All-Time High (ATH).

ProShares Futures BTC ETF Performing Well

According to an X post by Bloomberg ETF analyst James Seyffart, ProShares’ BITO is closing in on $1.5 billion in Total Value Locked (TVL). This comes barely two weeks after Eric Balchunas acknowledged that the product performs outstandingly well. Balchunas highlighted that ProShares Bitcoin Futures ETF had doubled in value within 30 days.

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All this #Bitcoin ETF hype has driven ProShares’ $BITO (Bitcoin Ffutures ETF) to a new all time high in assets. Closing in on $1.5 billion pic.twitter.com/b8advV1uGo

— James Seyffart (@JSeyff) November 29, 2023

Bitcoin ETF Approval Odds Stays at 90%

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The optimism for the agency’s positive decision is still on and has even intensified in recent days. Experts are still voicing their positivity on the potential of a spot Bitcoin ETF approval. Balchunas had reiterated his previous prediction that the SEC approval is a matter of time.

He boldly stated that the odds of receiving approval remain at 90%, just as was earlier speculated.

Franklin Templeton and Hashdex just had their spot Bitcoin ETF applications delayed by the SEC on the premise that “the rules of a national securities exchange be ‘designed to prevent fraudulent and manipulative acts and practices’ and ‘to protect investors and the public interest.’”

With respect to the delay, the SEC is now seeking feedback from the public on whether Templeton’s application should be approved or disapproved. Seeing that the SEC provided the update for Franklin Templeton’s application before the deadline of January 1st, 2024, this suggests that the regulator may be streamlining all spot BTC ETF applications for mass approval in January.

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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