World’s First Bitcoin ETF Records Over $1 Billion Loss

World’s First BTC ETF Declines 70% In First Year

The world’s first exchange traded fund tracking the price of bitcoin has lost 70% in the initial year.

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Asset manager ProShares launched its Bitcoin Strategy fund in October 2021.

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The BTC ETF has lost more of investors’ dollars than any other ETF debut.

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The bitcoin ETF had amassed more than $1bn in its first week of trading on the New York Stock Exchange.

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Since then the fund has lost money on an unprecedented scale, according to data from Morningstar Direct for the Financial Times.

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Losing nearly 70% price share makes it the sixth-worst performing debut ETF of its kind of all time.

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With net inflows of $1.8bn in its debut year, its assets now stand at $624 million.

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