ProShares Bitcoin Strategy ETF

ProShares Bitcoin Strategy ETF is an exchange-traded fund incorporated in the USA. The ETF seeks capital appreciation. There can be no assurance that the Fund will achieve its investment objective. The Fund does not invest directly in bitcoin. The Fund seeks to provide capital appreciation primarily through actively managed exposure to bitcoin futures contracts.

BITO actively manages a portfolio of front-month CME bitcoin futures.

The ProShares Bitcoin Strategy ETF ($BITO) is the first bitcoin futures ETF to trade on a major U.S. exchange.

Since it's a futures ETF, the fund holds futures contracts for bitcoin assets but does not hold bitcoin itself. Futures-based ETFs can be riskier than traditional ETFs, per the SEC.

Bitcoin ETFs allow investors to invest in the future of this cryptocurrency without investing directly. Proponents of bitcoin ETFs say that this broadens access to bitcoin to larger groups of investors who may not want to invest in bitcoin directly. 

One important consideration is that ETFs often come with management fees, and the approved Bitcoin Strategy ETF is no different, with a listed management fee of 0.95%.

The fact that the first bitcoin ETF is a futures ETF is important. There is a cost associated with “rolling” futures contracts and this means that a bitcoin futures ETF will not perfectly track the spot price of bitcoin.

Individual investors can already invest in bitcoin and as many as 13% of Americans have invested in crypto so far in 2021 according to one University of Chicago study.

In order for an ETF to become available to investors, it must be approved by the Securities and Exchange Commission (SEC) and registered under the Investment Company Act of 1940.

BITO saw about $1 billion of trading volume on its first day of trading, making it the second-most heavily traded ETF debut on record.

More than 24 million shares changed hands during its first trading day, according to data compiled by Bloomberg.

Bloomberg
Public.com/learn
University of Chicago

ARK 21Shares Bitcoin ETF

ARK Web x.0 ETF

Proshares Bitcoin & Ether Equal Weight Strategy Etf

Proshares Bitcoin & Ether Strategy Etf

Bitwise Bitcoin ETP Trust

Bitwise Bitcoin Strategy Optimum Roll ETF

Bitwise Crypto Innovators ETF

Global X Blockchain & Bitcoin Strategy ETF

Bitwise 10 Crypto Index Fund

Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF

Valkyrie Bitcoin Fund

Invesco Galaxy Bitcoin Etf

WisdomTree Bitcoin Fund

Valkyrie Bitcoin Strategy ETF

Bitwise Bitcoin And Ether Equal Weight Strategy Etf

Hashdex Bitcoin ETF

Franklin Bitcoin ETF

Fidelity Wise Origin Bitcoin Fund

Grayscale Bitcoin Trust

VanEck Bitcoin Trust

iShares Bitcoin Trust

Invesco Alerian Galaxy Crypto Economy ETF

Simplify US Equity PLUS GBTC ETF

Schwab Crypto Thematic ETF

Valkyrie Bitcoin Miners ETF

Vaneck Bitcoin Strategy ETF

Republican presidential candidate Donald Trump said on Tuesday that he wants all remaining Bitcoin to be made in the U.S.

Trump says he wants all remaining Bitcoin to be made in the US

Investors are starting to get jittery ahead of Wednesday's double header featuring inflation data and a Fed meeting. But it's not just stocks, bond and gold that are feeling the heat.

Why this famed value investor sees bitcoin as ‘significantly undervalued'

The largest cryptocurrency hit a record high near $74,000 in mid-March amid a surge of interest from new spot exchange-traded funds but its price has dropped since then.

Bitcoin Falls. Why ETF Inflows Aren't Boosting Prices.

Cryptocurrency prices fell sharply early Tuesday, with Bitcoin (BTC) dropping below $68,000 following a 3% dip. Most other coins also turned red, Ethereum (ETH) retreating to below $3,600.

Spot Bitcoin ETFs snap 19-day inflows streak; BTC dips

As of late Monday, June 3, bitcoin was hovering around $70,600. It was sporting a seven-day gain of roughly 3.3%.

Fundamentals in Place for Extended Bitcoin Rally

Goldman Sachs Physical Gold ETF

GraniteShares Gold Shares

Invesco DB Precious Metals Fund

Invesco DB Gold Fund

SPDR Gold Trust

SPDR Gold MiniShares Trust

iShares Gold Trust

VanEck Merk Gold Trust

Aberdeen Standard Gold ETF Trust

ProShares Ultra Gold

Jordan Finneseth is a Crypto Market Reporter for Kitco Crypto. Coming from a background in Psychology and Human Behavior, he began to focus his attention on the cryptocurrency space in early 2017 after noticing the rapid growth of this emerging market.

Bitcoin, gold and precious metals see red after NFP report stokes rate hike concerns

Proshares Ether Strategy Etf

ProShares Short Ether Strategy ETF

ProShares UltraShort Ether ETF

ProShares Ultra Ether ETF

On Friday, ProShares rolled out two ETFs offering 2x leveraged and 2x inverse exposure to the performance of ether, respectively. The ProShares Ultra Ether ETF (NYSE Arca: ETHT) and ProShares UltraShort Ether ETF (ETHD).

ProShares Debuts Leveraged/Inverse Ether ETFs

Cryptocurrencies, like other risk assets, have been held back by relatively high bond yields as the market scales back expectations for interest-rate cuts from the Federal Reserve.

Bitcoin Gains Ahead of Crucial Jobs Report. Ether Falls As ETF Wait Continues.

Financial asset prices go through cycles. The tide of sentiment will rise and fall, and there will be boring periods to shake out the less patient investors.

Boredom Is Bitcoin's Best Friend: Why Dull Zones Are the Perfect Time to Buy

Bitwise Ethereum Strategy Etf

ProShares Short Bitcoin Strategy ETF

Vaneck Ethereum Strategy Etf

This weekly update tracks some of the largest cryptocurrencies by market share: bitcoin and ether. While both are considered to be high-risk when it comes to investing, the two have foundational differences that investors should know.

Cryptocurrencies: Bitcoin Breaks $70,000

Traders are increasingly pricing in the likelihood of a Fed rate cut as early as September following data indicating a slowdown in US inflation and a softer job market.

Will Bitcoin ETFs Soar on Sooner-Than-Expected Fed Rate Cut?

The largest crypto was rising after exchange-traded funds had their biggest inflows since March.

Bitcoin Breaks Through $70,000. Spot ETFs Had a Big Day.

Bitcoin (BTC) is in recovery mode this week, with the world's largest cryptocurrency closing 1.5% higher on Monday before adding another 0.9% against the US dollar today. Week on week, the BTC/USD pair is up around 2%, supported by a robust performance in the spot-bitcoin exchange-traded fund market.

Bitcoin bolstered by global shift towards spot-bitcoin ETFs

Bitcoin, the vanguard of the cryptocurrency world, is on a trajectory to become a stable, long-term asset.

Bitcoin's bright future: Viable currency and an inflation hedge like gold

A major case for bitcoin ETFs was that financial advisors needed them to direct their clients to invest in the cryptocurrency. Almost six months in, the advisors are sitting out.

Bitcoin ETFs aren't winning the hearts and minds of financial advisors

Amplify Transformational Data Sharing ETF

Coinbase

VanEck Vectors Digital Transformation ETF

Grayscale Ethereum Classic Trust

Grayscale Ethereum Trust

Fidelity Covington Trust-Fidelity Crypto Industry And Digital Payments Etf

Amid a lack of Wall Street dealmaking this year, ETF issuers have been busy crafting new strategies. Our data show that 2024 paces to be a banner year for new US ETFs. Option ETFs, leveraged single-stock funds, and crypto are all big themes – with a newcomer set to grab the headlines.

Charting 2024's ETF Boom - Ether Entering The Arena?

Bitcoin and Ether are falling as risk assets such as cryptocurrencies struggle amid high bond yields.

Bitcoin Drops. These Are the Price Levels to Watch for Its Next Move.

Cryptocurrencies: Bitcoin Hovering Around $68K

The New York Stock Exchange (NYSE) has announced a strategic collaboration with CoinDesk Indices to introduce cash-settled index options that will track the CoinDesk Bitcoin Price Index (XBX), the longest-operating spot Bitcoin index. This partnership aims to offer investors a reliable and liquid risk-management tool, leveraging the expertise of both entities.

Breaking: NYSE to collaborate with CoinDesk indices on Bitcoin index options

Bitcoin prices slip after a number of wallets linked to Mt. Gox moved billions worth of Bitcoin into a single wallet early Tuesday.

Bitcoin Slips. Why the Market Is Nervous About a Potential Wave of Sales.

Potential spot Ether exchange-traded fund issuers could still go back and forth with the agency for weeks or months before receiving final permission to launch their products.

Bitcoin and Ether Are Dropping After SEC's ETF Approval. Here's Why.

This weekly update tracks some of the largest cryptocurrencies by market share: bitcoin and ether. We've also included XRP, as it was one of the largest cryptocurrencies when this series began.

Cryptocurrencies: Ether Surges 30% From Last Week

The jump came as traders speculated on whether the U.S. Securities and Exchange Commission will approve an application for a spot Ether exchange-traded fund, or ETF.

Bitcoin Gains and Ether Surges

Bitcoin (BCT) traders had nothing to write home about over the weekend trading session. The world's largest cryptocurrency stayed flat against the US dollar on Saturday before falling around one percentage point on Sunday.

Bitcoin dominance surges as crypto markets show signs of consolidation

The crypto sector's momentum is still highly dependent on flows into exchange-traded funds.

News for ProShares Bitcoin Strategy ETF ETF (BITO)