Analysis-Bitcoin futures highlight some pitfalls for new ETFs

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BITO ETF Debut and Paul Tudor Jones' Bullish Comments Propel Bitcoin (BTC) Price to New Record Highs

October 20, 2021 10:16 AM EDT

Bitcoin (BTC) price has hit a new record high at $66,300 today, according to Coinbase data. Bitcoin price has consistently been moving higher in the past 3 weeks to go from $40,750 on September 29 to a new record high today.

In a landmark event yesterday, the ProShares Bitcoin Strategy ETF (BITO) made its debut yesterday. The ETF also became the second-most heavily traded fund on record.

From our conversations with market participants, I think its related to... More