Bitcoin recovers lost ground for the year as cryptocurrency 'bull raises its head'

Total Bitcoin Exposure in ProShares BITO ETF, a Bitcoin Futures ETF, Has Risen to 28,000, a Record High

Last week, total exposure to bitcoin in the ProShares Bitcoin Strategy ETF (NYSE:BITO), a bitcoin futures ETF, rose to a record high of 28,000 coins, with a market cap of about $1.27 billion at March 24 prices. The demand for bitcoin is increasing through traditional investment vehicles.

[Weekly Investment Research Views Summary

Bloomberg analysts wrote in a report that a bitcoin spot ETF would be approved sometime between November of this year and May of 2023, given the SEC's proposed rule changes to reposition it on exchanges.

A survey conducted by international investment bank Goldman Sachs shows that investors continue to be bullish on cryptocurrencies. The survey collected the attitudes of 172 clients towards digital assets, of which 60% said they expect to increase their cryptocurrency holdings within 1-2 years and 32% said they would "significantly" increase their holdings of cryptocurrencies.