Investors piled money into bitcoin futures ETFs in 2022, even though the price of the cryptocurrency plunged 65 per cent.
Investors ploughed $241mn into the six US bitcoin futures ETFs during the first 11 months of 2022, according to data from Morningstar Direct. And most of that money — $198mn — was added after June, which bitcoin payment service provider Bitpay marks as the start of a crypto “deep freeze”.
ProShares in October 2021 launched the ProShares Bitcoin Strategy ETF,…
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