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PANews reported on November 10 that Bloomberg analyst Eric Balchunas tweeted: "The net asset value of Proshares' Bitcoin futures ETF BITO has almost doubled in the past 30 days. Mainly from market appreciation, but $240 million of that came from money flows (the second highest increase ever). In addition, its trading volume is expected to break through about $2 billion this week. Ironically, again, it is the expected big beneficiary of the cash ETF, but will be one of its biggest victims when the spot ETF is launched. ”
Related reading: Down more than 30%, the ProShares Bitcoin Futures ETF became one of the top 10 worst-performing funds two months after listing