ProShares Bitcoin Strategy ETF (BITO), the first bitcoin (BTC) futures ETF to launch in the United States, has seen an increase in its deposited value, reaching an all-time high of surpassing $2.01 billion.

BITO's rally began last October when it had 800 million in deposited value, which represents an increase of 150%.

Capital inflows into digital asset investment products amounted to $151 million during the first week of 2024, according to the firm CoinShares. ProShares led all issuers in the net inflows category during that period with inflows of $72 million.

Even though the bitcoin spot ETF has not yet been approved by US regulators, 55% of the inflows came from US exchanges, while Germany and Switzerland received 21% and 17% respectively, the report states.

For its part, bitcoin was the crypto asset that received the largest amount of inflows with 113 million dollars, while short positions in bitcoin (that is, bets on the price decline) had outflows of a total of 1 million dollars in the first week of the year, he points out.

“If many truly believed that the US ETF launch would be a 'buy the rumor, sell the news' event we would surely expect to see inflows into short bitcoin financial instruments; On the other hand, outflows during the last 9 weeks have amounted to 7 million dollars,” commented CoinShares analyst James Butterfill.

The expectation surrounding the possible approval of a spot bitcoin ETF has been a fundamental catalyst for the increase in demand for BITO, as well as for the price of the btc, which has seen its price increase by 68% between October and so far in January.