BITO - BITO And BITI: A Long/Short Bitcoin Strategy Plus Income
2024-05-16 07:54:18 ET
Summary
- ProShares launched several bitcoin-related ETFs, including the ProShares Bitcoin Strategy ETF and the ProShares Short Bitcoin Strategy ETF.
- BITO invests in bitcoin futures and has seen exceptional performance, slightly underperforming its benchmark index.
- Both BITO and BITI offer monthly dividends and can be used in a long/short strategy to hedge against bitcoin price volatility.
Whatever you believe about Bitcoin ( BTC-USD ), it is an investment that is here to stay. The hysteria over the approval of a spot Bitcoin ETF earlier this year led to a spate of Bitcoin ETF IPOs. As many as 11 new Bitcoin ETFs were introduced in January 2024 and a total of at least 35 new ETFs were launched in the first 2 weeks of January, according to Reuters. Several of those bitcoin-related ETFs were launched by ProShares, known for having one of the largest assortments of ETFs on the market. ProShares has been at the forefront of the ETF revolution since 2006, according to their website:
BITO And BITI: A Long/Short Bitcoin Strategy Plus IncomeProShares now offers one of the largest lineups of ETFs, with over $65 billion in assets. The company is a leader in strategies such as crypto-linked, dividend growth, interest rate hedged bond and geared (leveraged and inverse) ETF investing. ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns.