DON'T BUY
Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research

BITO was the first US ETF that tracked Bitcoin. It uses futures contracts of Bitcoin, and this basically means that its tracking is inefficient and will often lag the actual price of bitcoin over time. 

On a year-to-date basis, BITO has declined 6%, while the price of bitcoin has increased 44%. A return gap of 50%. But, Bitcoin does not pay dividends, while BITO has a current distribution yield of 36%. This distribution yield has helped to bridge the 50% gap between the actual price of bitcoin and the year-to-date performance of BITO, but not entirely. So while the yield may seem enticing, the fund has lagged the actual performance of what it is tracking, and in the event of a decline in bitcoin, BITO is highly likely to underperform. 
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E.T.F.'s
DON'T BUY
Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research

BITO was the first US ETF that tracked Bitcoin. It uses futures contracts of Bitcoin, and this basically means that its tracking is inefficient and will often lag the actual price of bitcoin over time. 

On a year-to-date basis, BITO has declined 6%, while the price of bitcoin has increased 44%. A return gap of 50%. But, Bitcoin does not pay dividends, while BITO has a current distribution yield of 36%. This distribution yield has helped to bridge the 50% gap between the actual price of bitcoin and the year-to-date performance of BITO, but not entirely. So while the yield may seem enticing, the fund has lagged the actual performance of what it is tracking, and in the event of a decline in bitcoin, BITO is highly likely to underperform.
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E.T.F.'s
WAIT

SUCCESSFUL DEBUT FOR THE BITCOIN ETF

Successful debut for the Bitcoin ETF The ProShares Bitcoin Strategy "BITO" made its debut on Tuesday on Wall Street (New York Stock Exchange). This Exchange Traded Fund (ETF) allows investors to acquire shares, which can be bought or sold at any time. At the end of the day, the stock had closed up 4.95% at $41.98. The volume of trades was over $1 billion, placing it second overall, behind the BlackRock US Carbon Transition Readiness ETF, with $1.16 billion.

Note that BITO tracks Bitcoin futures contracts instead of Bitcoin itself. There are two reasons for this. The first being that it was easier to clear the ETF with the SEC as actual bitcoin was not involved in the ETF. The second is the ability to reach a wider target audience as they did not want their customer to go through the hassle of creating Bitcoin wallets.

The arrival of this fund has allowed Bitcoin to break its record in recent days, with a new high reached at $67,000, followed by a sharp correction to $60,000 today.

E.T.F.'s
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ProShares Bitcoin Strategy ETF(BITO-N) Rating

Ranking : 3 out of 5

Bullish - Buy Signals / Votes : 0

Neutral - Hold Signals / Votes : 0

Bearish - Sell Signals / Votes : 2

Total Signals / Votes : 2

Stockchase rating for ProShares Bitcoin Strategy ETF is calculated according to the stock experts' signals. A high score means experts mostly recommend to buy the stock while a low score means experts mostly recommend to sell the stock.

ProShares Bitcoin Strategy ETF(BITO-N) Frequently Asked Questions

What is ProShares Bitcoin Strategy ETF stock symbol?

ProShares Bitcoin Strategy ETF is a American stock, trading under the symbol BITO-N on the NYSE American (BITO). It is usually referred to as AMEX:BITO or BITO-N

Is ProShares Bitcoin Strategy ETF a buy or a sell?

In the last year, 2 stock analysts published opinions about BITO-N. 0 analysts recommended to BUY the stock. 2 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for ProShares Bitcoin Strategy ETF.

Is ProShares Bitcoin Strategy ETF a good investment or a top pick?

ProShares Bitcoin Strategy ETF was never recommended as a Top Pick on Stockchase. Read the latest stock experts ratings for ProShares Bitcoin Strategy ETF.

Why is ProShares Bitcoin Strategy ETF stock dropping?

Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.

Is ProShares Bitcoin Strategy ETF worth watching?

2 stock analysts on Stockchase covered ProShares Bitcoin Strategy ETF In the last year. It is a trending stock that is worth watching.

What is ProShares Bitcoin Strategy ETF stock price?

On 2024-11-01, ProShares Bitcoin Strategy ETF (BITO-N) stock closed at a price of $18.68.