The ProShares Bitcoin Strategy Exchange-Traded Fund (BITO) amassed assets of over $1 billion in its first two days of trading. JPMorgan strategist Nikolaos Panigirtzoglou wrote in a note to clients that there’s been a shift from gold ETFs into bitcoin funds since September. BITO saw trading volume of over 29 million shares Wednesday, representing over $1.2 billion. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. It strives for the highest journalistic standards and abides by a strict set of editorial policies.
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