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Bitcoin Futures ETF is so popular that it’s breaching futures limits set by TradFi

Could BITO’s unprecedented popularity prompt the Securities and Exchange Commission (SEC) to speed up the approval of funds that hold Bitcoin directly?

Bitcoin Futures ETF is so popular that it’s breaching futures limits set by TradFi

Photo by Daniel Lloyd Blunk-Fernández on Unsplash

The first US Bitcoin (BTC) exchange-traded fund is rapidly getting close to breaching a limit on the number of futures contracts it is permitted to hold, Bloomberg reported.

Just days after launch, the ProShares Bitcoin Strategy ETF (BITO) already owns nearly 1,900 contracts for October, and Chicago Mercantile Exchange (CME) limits the number of front-month contracts to 2,000.

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