ProShares Bitcoin Strategy ETF's price is rallying, but inflows are drying up

The ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) is +3.85% on Tuesday afternoon, but the popular crypto-related security has witnessed a plateau in fund flows just two weeks after its October launch. While the ETF exploded out of the gates on Oct. 19 and attracted over $1B in just its first two trading days, BITO has now seen its fund flows flatten out. The ETF took in just $2.9M in the week ended Thursday, Oct. 28, according to etfdb.com. Volume levels have also come down from BITO's debut. BITO exchanged over 29M shares on Day 1 and over 20M shares on Day 2. But since the beginning of last week, the fund's daily trading volume has ranged between 6.1M and 7.5M. BITO has exchanged 5M shares as of 1:30 p.m. ET on Tuesday. What do BITO's reduced volume and fund flows mean? While it's still very early to make a final judgment about the ETF, the volume figures