However, data from Morningstar Direct for the Financial Times shows that after one year of operation, the fund has suffered a massive loss of assets.
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In a test for investors during what has come to be known as the “crypto winter,” its 70% share price collapse also makes this the sixth-worst performing launch ETF of its kind all time.
Chief ratings officer at Morningstar Research Services, Jeffrey Ptak, told the Financial Times: “We’ve seen funds nosedive right out of the gate in this manner, but rarely do they attract so much in assets so soon after launching like [this] did.”
Over the course of its existence, the ETF known as BITO has constantly garnered inflows with only modest outflows. The assets of the fund currently stand at US$624 million, despite net inflows of US$1.8 billion in its first year.
