Fundstrat expects ProShares Bitcoin Strategy ETF and the host of others that have begun trading on regulated exchanges to see record inflows in their first year of trading.
The SEC, after years of rejections of cryptocurrency ETFs, has been on the roll with the approvals of the investment vehicles.
The structuring of the ETFs such that they are not backed by physical Bitcoins but by futures contracts that track Bitcoin has been criticized as not being the best for the market by notable figures including Mark Cuban, the billionaire owner of the Dallas Mavericks, as well as, billionaire Paul Tudor Jones.
It is currently trading at around $61,000, down 1.68% in the last 24 hours and up 45.8% this month.