##  [# ETF Launches: BITO](/sections/etf-report-departments/etf-launches-bito) 

 

# ETF Launches: BITO

 

 

The first bitcoin futures ETF rapidly gathered $1 billion in assets.



 

 

 

 

 [![HeatherBell_green_bg](/sites/default/files/styles/author_image_icon/public/2023-03/heather2.png?itok=5J9vBlda)](/contributors/heather-bell) 

[By Heather Bell](/contributors/heather-bell)

 Dec 01, 2021

 Edited by: Heather Bell

 

 

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![](/sites/default/files/images/Magazines/ETF%20Report/2021/11/NewETFLaunchesNovember_fig1.jpg)

[![Pop-up Image](/sites/default/files/images/Magazines/ETF%20Report/2021/11/NewETFLaunchesNovember_fig3.jpg)](/sites/default/files/images/Magazines/ETF%20Report/2021/11/NewETFLaunchesNovember_fig3b.jpg)

(For a larger view, click on the image above)



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**FEATURED ETF**  
**[BITO](/BITO)  The first-ever bitcoin futures ETF was a blockbuster right out of the gate.**

 The first-ever bitcoin futures ETF made its debut on Oct. 19 with a bang. The **[ProShares Bitcoin Strategy ETF (BITO](https://www.etf.com/BITO))** offers actively managed exposure to bitcoin futures traded on the Chicago Mercantile Exchange. It comes with an expense ratio of 0.95%.

The fund invests primarily in front-month futures contracts and uses a wholly owned Cayman Islands subsidiary that can represent up to 25% of the fund’s assets for this purpose. The remainder of the portfolio not held in bitcoin futures primarily consists of short-term cashlike instruments such as Treasury bills.

BITO closed its first day with roughly $1 billion traded and was one of the most popular ETF launches ever. It ended its first trading session with roughly $570 million in assets, putting it in the top 30% of ETFs by size, according to Bloomberg.

The arrival of BITO marks the culmination of eight years of filings and SEC rejections. Several firms have filed for futures-based or physical bitcoin ETFs, and approval on most of them is still pending.

Just one day after the ProShares fund’s launch, bitcoin reached a new record high of $64,863 despite its price being nearly cut in half earlier in the year.

![](/sites/default/files/images/Magazines/ETF%20Report/2021/11/NewETFLaunchesNovember_fig2.jpg)

*Source: ETF.com. Data and information as of 10/31/2021.  
 The above sidebar covers launches and closures for the months of September &amp; October 2021.*





 

 

 [ Heather Bell ](/contributors/heather-bell) 

 

 

  Heather Bell is a former managing editor of etf.com. She has also held editorial positions at Dow Jones Indexes and Lehman Brothers. Bell is a…   [View Bio](/contributors/heather-bell)

 



 

 


 Related Topics  [Bitcoin](http://www.etf.com/topics/bitcoin) 

 [Crypto](http://www.etf.com/topics/cryptocurrency) 

 [Blockchain](http://www.etf.com/topics/blockchain) 

 [Derivative](http://www.etf.com/topics/derivative)