Better Than Bitcoin
The ProShares Bitcoin Strategy Exchange Traded Fund (BITO) is the first publicly traded ETF that’s directly tied to Bitcoin’s value — meaning it gives everyday investors a chance to participate in Bitcoin’s ups and downs without actually owning the cryptocurrency itself. Technically speaking, BITO investors don’t actually benefit from changes in Bitcoin’s spot price. Instead the shares’ value will depend on what’s happening to the futures market. Not to be negative, but the recipe sounds like a disaster waiting to happen. Don’t let the nomenclature stress you out, though, because Bitcoin will soon be yesterday’s news. At least, that was the consensus from our experts at last week’s Six Predictions Summit.