Institutional demand for () is conspicuous by its absence at the end of the year, as the data points to the “poor performance” of the first exchange-traded fund (ETF) in the United States.
As noted by market commentator Holger Zschaepitz on December 29, the ProShares Bitcoin Strategy (BITO) ETF is now trading almost 30% below its price on its debut on the stock market.
Anticlimax Completes Year 2021 for ProShares ETF In a sign of the times regarding market stance towards Bitcoin, the hype that accompanied the launch of BITO in Q3 has largely faded.
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