ProShares Bitcoin ETF Hikes Dividend Amidst Growing Market Confidence

ProShares Bitcoin Strategy ETF (BITO) declared a dividend of 1.1448 per share payable on April 8th, 2023, to shareholders of record on April 2nd, 2023. This dividend marks a significant increase from the previous $0.66 per share dividend. BITO's stock opened at $32.30 on Friday, trading within a 52-week range of $12.79-$33.79.

ProShares Bitcoin Strategy ETF Announces Increased Dividend, Signaling Strong Market Sentiment

New York City, December 21, 2023 - ProShares Bitcoin Strategy ETF (NYSEARCA: BITO) has declared a dividend of 1.1448 per share, marking a significant increase from its previous dividend of $0.66. This news has been met with optimism by investors, reflecting the growing demand for bitcoin-related investment vehicles.

The dividend will be paid on Monday, April 8th, 2024, to shareholders of record as of Tuesday, April 2nd, 2024. The company's ex-dividend date, the last day on which investors are eligible to receive the dividend, is Monday, April 1st, 2024.

The dividend increase is indicative of BITO's strong performance in recent months. The ETF has been trading steadily above its 52-week low of $12.79, reaching a high of $33.79 during the period. Currently, BITO's shares are trading at $32.30, representing a 3.3% increase from the previous day's close.

Institutional Activity Reflects Growing Investor Interest

Institutional investors have been actively trading BITO shares, further underscoring the ETF's appeal. Harbour Investments Inc. significantly increased its stake in BITO by 1,182.5% during the fourth quarter of 2023, while Qube Research & Technologies Ltd and JPMorgan Chase & Co. both established new positions in the company.

Captrust Financial Advisors and Pathstone Holdings LLC also increased their holdings in BITO during the last two quarters, highlighting the ETF's growing popularity among sophisticated investors.

About ProShares Bitcoin Strategy ETF

The ProShares Bitcoin Strategy ETF (BITO) is an exchange-traded fund (ETF) that primarily invests in long bitcoin (BTC) futures contracts and short U.S. dollar currency futures contracts. The fund's objective is to provide investors with exposure to the performance of bitcoin while mitigating some of the risks associated with directly owning the cryptocurrency.

BITO was launched on October 18, 2021, and is managed by ProShares, a leading provider of ETF products. The fund has quickly gained traction among investors seeking convenient and regulated exposure to the rapidly growing cryptocurrency market.

Conclusion

ProShares Bitcoin Strategy ETF's increased dividend and encouraging institutional activity signal a positive outlook for the fund and the broader cryptocurrency industry. BITO's performance reflects the growing demand for bitcoin-related investment vehicles, as investors seek exposure to the potential upside of digital assets while managing risk.

The fund's strong fundamentals and increasing investor interest make it an attractive option for both retail and institutional investors looking to capitalize on the growth of the cryptocurrency market.