ProShares Bitcoin Futures ETF Wins ‘First Mover Advantage’ as VanEck Launch Falls Flat

Posted on by American Coins & Gold

ProShares Bitcoin Futures ETF Wins ‘First Mover Advantage’ as VanEck Launch Falls Flat
VanEck investments’ newly listed bitcoin futures exchange-traded fund (ETF) saw limited uptake when it launched last week. Some analysts say that’s unsurprising since a rival bitcoin futures ETF launched by ProShares several weeks earlier appears to have leapt to a first-mover advantage.As of Friday, the ProShares Bitcoin Strategy ETF – stock ticker BITO – had net assets of $1.4 billion. It was the first bitcoin futures ETF to go live in October after winning the approval of the U.S. Securities and Exchange Commission.Such assets dwarf the $57 million for Valkyrie’s bitcoin futures ETF (ticker BTF), launched a few days later,…