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Since the first ETF () was rejected in 2013, the crypto community has been waiting for approval from the US Securities and Exchange Commission (SEC).
However, after 8 years of waiting, the successful approval of the first Bitcoin ETF in the US market could be the main catalyst for the drop in the product, and thus the price of Bitcoin.
According to an exclusive Passfolio analysis shared with Cointelegraph, perhaps due to the long wait, the ProShares Bitcoin Strategy ETF (BITO) was the fastest ETF to reach $1 billion in assets under management (AUM), having reached the milestone in just 2. days. And not only that, but it recorded the second highest debut volume in history, surpassing $1 billion.
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