ProShares ETF’s Bitcoin stash hits $ 1.27B as BTC eyes $ 50K by mid-April By Cointelegraph

Strong inflows into the ProShares Strategy exchange-traded fund (ETF) (BITO) in the past two weeks pushed its Bitcoin (BTC) exposure to a new record high.

The fund, which uses futures contracts to gain exposure to Bitcoin’s price movements, had a record 28,450 BTC under its management – worth about $ 1.27 billion at the current price – as of March 24, compared to nearly 26,000 BTC a month before, according to official data from ProShares.