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.