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.

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The approval of Bitcoin (CRYPTO: BTC) futures contracts by the United States Securities and Exchange Commission has also created new leverage opportunities through more advanced financial products. What Happened: Now that the ProShares Bitcoin Strategy ETF (NYSE:BITO) is listed on the New York Stock Exchange, triggering a new Bitcoin all-time high, the fund will debut on the NYSE American Options exchanges on Wednesday, according to a Wednesday Bloomberg report.

How The Bitcoin ETF Creates New Leverage Opportunities

The ProShares Bitcoin Strategy ETF is already up more than 8.0% from its debut on Tuesday, and WisdomTree's Jason Guthrie says part of the reason is that it's “universally available”.   Guthrie's remarks on CNBC's ‘Street Signs Europe' On CNBC's “Street Signs Europe”, Guthrie said the first-ever bitcoin futures ETF will be equally exciting for […] The post Pro: both retail investors and institutions will be interested in BITO appeared first on Invezz.

Pro: both retail investors and institutions will be interested in BITO

ETFs designed to own actual crypto assets are still on hold at the Securities and Exchange Commission.

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The ProShares Bitcoin Strategy ETF (BITO), the first exchange traded fund focused solely on a cryptocurrency instead of broader crypto exposure, hit $1 billion in trading volume in the after hours of its first day of trading. Within the first twenty minutes of its launch, the bitcoin futures ETF had already surpassed $280 million in [.

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Cathie Wood is holding off from buying ProShares Bitcoin Strategy ETF, citing tax implications. "We're looking at this very carefully," she added.

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The overall demand for BITO was likely from a combination of investment advisors, private banking clients, and funds shorting the ETF, Vanda said.

The debut of the first bitcoin futures ETF drew big demand, but retail investors mostly sat out, research firm says

In an interview, CEO Michael Sapir argues that there are many benefits to using futures to get exposure to the cryptocurrency.

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The ProShares Bitcoin Strategy ETF (NYSE:BITO) made its debut on the New York Stock Exchange on Tuesday, closing 4.65% higher at a price of $41.94 per share. What Happened: The fund made history, not just for being the first Bitcoin futures exchange-traded fund to trade in the U.S., but also for recording the highest ever “natural” day one trading volume.

Bitcoin Futures ETF Sees Biggest Ever 'Day One' With $1B In 'Natural' Volume

The world's largest cryptocurrency by market capitalization, Bitcoin (BTC), saw a major surge on Tuesday following the debut of the first Bitcoin ETF, the ProShares Bitcoin Strategy ETF (BITO). Bitcoin (BTC) has been in a race to get above its previous all-time high of $64,863.10 and yesterday's boost by the debut of the Bitcoin ETF […] The post Bitcoin tests $64,434 after the successful debut of ProShares Bitcoin ETF (BITO) appeared first on Invezz.

Bitcoin tests $64,434 after the successful debut of ProShares Bitcoin ETF (BITO)

In the face of the hottest inflation we've seen in decades, we will see if money moves out of GLD, to fund new investments in BITO.

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The ProShares Bitcoin Strategy ETF (NYSEAMERICAN: BITO) increased by over 4.8% in its market debut. These are the details.

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It's a big day — the ProShares Bitcoin Strategy ETF (BITO) has launched, giving everyone a chance to somehow invest in cryptocurrency. ETF Trends' CEO, Tom Lydon, was on hand to discuss this bitcoin event with TD Ameritrade's Nicole Petallides.

TD Ameritrade: Tom Lydon Talks the Bitcoin ETF Launch

On this special edition episode of ETF Prime, host Nate Geraci speaks with Simeon Hyman, global investment strategist at ProShares, on the launch of their cryptocurrency ETF, the ProShares Bitcoin Strategy ETF (BITO). The launch is a historic one for the crypto space; BITO is the first cryptocurrency-related ETF to be approved by the SEC [.

ETF Prime Special Edition: ProShares Launches First U.S. Bitcoin Strategy ETF

ProShares announced in a press release yesterday its plans to launch the first ETF within the U.S. tied to the largest cryptocurrency, bitcoin. That ETF launched today, reaching over $264 million within twenty minutes of trading.

ProShares Launches BITO, the First Bitcoin ETF in the U.S.

n an interview, CEO Michael Sapir argues that there are many benefits to using futures to get exposure to the cryptocurrency.

ProShares CEO Says His Bitcoin ETF Has an 'Enormous Advantage'

The BITO ETF is finally here, and now investors can sit back and wait for Bitcoin ETFs from these other issuers. Here's what to watch.

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Last Friday, the U.S. Securities and Exchange Commission approved a Bitcoin ETF.

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Grayscale Bitcoin Trust

Grayscale Investments continues the conversion of their digital currency investment to exchange traded funds with the announcement in a press release of NYSE Arca's filing with the SEC to convert their flagship Grayscale Bitcoin Trust (GBTC) into an ETF. Grayscale is the biggest global digital currency asset manager, and GBTC is the largest bitcoin trust [.

Grayscale Files to Convert Flagship Bitcoin Trust Into ETF

The first-ever Bitcoin ETF listed in the United States is finally here!

ProShares Bitcoin Strategy ETF: It's Not Perfect, But It'll Work

Fundstrat's Tom Lee sees demand for the bitcoin futures ETF continuing, saying that it can get more than $50 billion in inflows in its first year.

ProShares' bitcoin futures fund is on track to be one of the biggest ETF launches ever, drawing massive demand on its opening day

In one of the exchange traded funds industry's most widely anticipated events in recent memory, at least one bitcoin futures ETF is coming to market, and that could soon be followed by several more. The ProShares Bitcoin Strategy ETF (BITO) is linked to bitcoin futures, and it's expected that several following funds that could be [.

Why Bitcoin Futures Make Sense in This Commodities ETF

The introduction of a bitcoin futures ETF into the capital markets will open up opportunities in the leading cryptocurrency's underlying technology, such as blockchain-focused funds. One such fund to look out for is the Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC).

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The ProShares Bitcoin Strategy ETF (BITO) creates an opportunity for investors on the sidelines, says the firm's head of investment strategy.

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"There's plenty of outlets to buy bitcoin directly," Tyrone Ross, CEO of Onramp Invest, tells CNBC Make It.

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