The $2 billion ProShares Bitcoin Strategy portfolio used to be the preeminent exchange-traded fund tied to the cryptocurrency. The outlook for the futures-based ETF is now more complicated as rival funds muscle in.
Nine new ETFs investing directly in the largest digital asset debuted on Jan. 11 in the US, attracting over $10 billion of inflows so far. BlackRock Inc. and Fidelity Investments are among the issuers vying for customers, in part with lower fees compared with the ProShares product.
