🎉 Great news, BTC enthusiasts! The ProShares Bitcoin Strategy ETF (BITO) – the largest existing Bitcoin ETF in the U.S. – has absorbed a whopping $240 million worth of flows over the past month! 🚀

This marks the fund's second-best-performing month, signaling fierce anticipation over an incoming spot ETF approval. BITO's assets have nearly doubled in the last 30 days, from ~$850 million to $1.37 billion! 🤯

While BITO was the first Bitcoin ETF in the U.S., it invests in Bitcoin futures contracts rather than actual BTC. A spot-based ETF, which would perfectly track Bitcoin's price, is yet to be approved by U.S. regulators. 🤔

However, analysts are expecting a likely ETF approval by early January, thanks to mounting public pressure and a recent court defeat to Grayscale. Until then, BITO remains a popular tool for institutions seeking BTC exposure. 🏦

In addition to BITO, rival stocks like Coinbase (COIN), MicroStrategy (MSTR), and Marathon Digital (MARA) are also popular for institutional BTC exposure. Bitcoin funds have attracted major inflows over the past month, totaling $229 million! 🌊

So, keep your eyes peeled for more exciting developments in the world of Bitcoin ETFs! 🌟