BITO - BITO: Is There Still A Place For Futures ETFs?
2024-02-02 13:11:54 ET
Summary
- With the approval of nearly a dozen spot Bitcoin ETFs in the US market, futures contract funds like BITO have more competition.
- BITO's expense ratio is high compared to spot funds and daily trading volume has been surpassed both IBIT and GBTC.
- Still, there may be a reason to long BITO over spot funds if you want to keep BTC out of the control of centralized financial firms.
It has been well covered by many at this point, but in case you've been unplugged for a month, the Securities and Exchange Commission begrudgingly approved nearly a dozen spot Bitcoin ( BTC-USD ) ETFs for the US market in mid-January. These funds are fundamentally different from the futures ETFs that have already been available, as they are backed by the underlying asset rather than futures contracts....
BITO: Is There Still A Place For Futures ETFs?