Since the ProShares Bitcoin Strategy ETF started trading this week, it has get the fastest fund ever to reach $one billion in avails under management (AUM).

The highly predictable launch of the get-go Bitcoin (BTC) futures exchange-traded fund (ETF) in the United States, BITO, has resulted in a number of milestone achievements.

Bloomberg senior ETF analyst Eric Balchunas reported that the fund was the quickest always to reach a 10-figure AUM afterwards just two days of trading. BITO easily surpassed the previous record-holder, a gilded-based fund with the ticker GLD, which took three days to hitting the billion-dollar mark in 2004.

He commented that this was "poetically apropos," presumably in reference to Bitcoin's store of value properties and comparison to digital gold.

Balchunas exclaimed, "I've never seen anything similar this. I bet ProShares is even shocked," while retweeting a mail service by Bloomberg Intelligence research annotator James Seyffart, who updated the original chart.

Balchunas commented that there may non exist whatever contracts left to buy if this volume continues, referring to a post by The ETF Store President Nate Geraci stating that near 45% of BITO exposure is at present in Nov futures contracts.

"If $BITO keeps up this pace of inflows it won't accept any futures left to buy by the end of the month due to pos [position] limits."

The ProShares fund as well broke the record for the highest-e'er offset day of organic volume, which hit $ane billion on Tuesday when it launched. More than 24 million shares were traded during its debut day, and since the ETF went alive, information technology has now traded more $ii billion in book.

Related: VanEck Bitcoin Strategy ETF will probable launch next week every bit crypto prices reach ATHs

Balchunas has predicted that the next Bitcoin futures fund launch will be on Fri. This is likely to be the Valkyrie Bitcoin Strategy ETF, which is irresolute its ticker back to BTF in grooming. In crypto circles, the quondam ticker BTFD also referred to every bit "purchase the f---ing dip," which may non have gone down too well with the U.S. Securities and Exchange Commission.

The momentum has driven Bitcoin prices to a new best loftier of $67,276 on Wednesday, according to CoinGecko. At the time of writing, the asset had retreated slightly to change hands effectually the $65,230 mark.