First US Bitcoin ETF a 'dud' in 2021 as GBTC discount stays near record lows

First US Bitcoin ETF a 'dud' in 2021 as GBTC discount stays near record lows

There's little to smile about when it comes to institutional participation in Bitcoin as the end of the year, data shows. Bitcoin (BTC) institutional demand is conspicuously wanting at the end of the year as data flags the "underperformance" of the United States' first Bitcoin futures exchange-traded fund (ETF).As noted by markets commentator Holger Zschaepitz on Dec. 29, the ProShares Bitcoin Strategy ETF (BITO) is now trading at nearly 30% below its launch price.Anticlimax rounds out 2021 for ProShares ETFIn a sign of the times regarding Bitcoin sentiment, the hype that accompanied....


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