BITO on Track to Be First Fund in History to Hit $1B in AUM in Two Days

The fund’s demand has pushed the world’s largest digital currency to a new all-time high of more than $66,000 Wednesday.

article-image

Source: AFP

share
  • SPDR Gold Shares (ticker GLD), which many are comparing with BITO, hit $1 billion AUM in three days after its launch in 2004
  • America’s first bitcoin futures-based ETF surpassed $1 billion in trade volume four hours into the session on Wednesday

Four hours into the trading session on its second day listed, America’s first-ever bitcoin futures exchange-traded fund, the ProShares Bitcoin Strategy Fund (BITO), surpassed $1 billion in volume. 

“The ProShares Bitcoin Strategy ETF is now one of the most successful launches in ETF history. The initial demand for this ETF is off-the-charts and has exceeded even the most optimistic expectations,” said Nate Geraci, president of the ETF Store. “It’s clear investors and advisors were craving bitcoin price exposure in their traditional brokerage accounts and IRAs.”

If ProShares converts 43% of Wednesday’s volume into assets — it already converted 57% on Tuesday — it will be the first fund in history to reach $1 billion in assets under management in two days.

SPDR Gold Shares (ticker GLD), which many are comparing with BITO, hit $1 billion AUM in three days after its launch in 2004. 

The fund’s demand has pushed the world’s largest digital currency to a new all-time high of more than $66,000 Wednesday. 

“The futures on which the ETF is based started trading in 2017, and bitcoin ripped into that event. It topped out at $19,000 but wouldn’t see that level again for 3 years,” said Nicholas Colas, co-founder of DataTrek Research. “Yes, it is 3x that price now, but December 2017’s bitcoin buyers had to live through a lot of pain to see the promised land.” 

Loading Tweet..

Investors and analysts are awaiting filings from two other issues expected to launch their own futures-based funds in the coming days. 

VanEck submitted its post-effective amendment filing Wednesday and hinted at a launch day of next week. 

VanEck’s Bitcoin Strategy ETF will be available “as soon as practicable” after this coming Saturday, October 23, making Monday, October 25, a plausible date, according to the filing.

Valkyrie’s fund, which some analysts originally thought would launch alongside ProShare’s product, may list on the Nasdaq as early as Thursday. The issuer has not yet filed its post-effective amendment. 

BITO was trading at $43.51, up 3.74%, at press time. 

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Cover Chart.png

Research

The tokenization wave has arrived for trading cards, with protocols like Collector Crypt and Phygitals leading the charge. By tapping into the same dopamine loops that made Pop Mart’s Labubu blind boxes a phenomenon, their gacha mechanics show how TCGs can thrive in a crypto-native setting. Yet with razor-thin margins, limited product differentiation, and hype-driven cycles, building a lasting moat is a challenge. In my latest report, I share insights from the Collector Crypt and Phygitals teams on the opportunities and risks shaping onchain TCGs and what comes next for them.

article-image

Our take on durability, valuation, and fundamental catalysts

by Carlos /
article-image

Acquisition of Copium Capital’s strategies strengthens Barter’s offering, but raises questions about solver concentration

article-image

The company says the acquisition strengthens its push to simplify DeFi for consumers

by Blockworks /
article-image

Cboe Futures Exchange aims to introduce long-dated crypto contracts under US regulatory oversight

by Blockworks /
article-image

Client engineers and coordinators earn far less than researchers, despite playing key roles in network stability

article-image

One of the new hires was formerly FTX’s global head of payments