Cryptocurrency Q&A
How well does BITO track bitcoin?
How well does BITO track bitcoin?
ZenHarmony
Sun Oct 06 2024
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7 answers
1901
I'm curious to know, just how closely does the BITO ETF track the price movements of bitcoin? With the volatile nature of cryptocurrencies, is BITO able to maintain a tight correlation, ensuring investors are getting a true reflection of the Bitcoin market in their portfolio? Or are there significant deviations and discrepancies that investors should be aware of? I'd appreciate any insights or data you can provide on this matter.
7 answers
Michele
Tue Oct 08 2024
In his assessment, Hyman acknowledges that bitcoin futures ETFs have demonstrated a commendable ability to mirror the performance of bitcoin itself.
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KimchiQueen
Tue Oct 08 2024
Among its offerings, BTCC provides access to spot trading, enabling investors to buy and sell bitcoin and other digital assets at current market prices.
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ZenBalance
Tue Oct 08 2024
Despite this positive correlation, Hyman remains cautious, emphasizing that the spot market for Bitcoin is still in its nascent stages of maturity.
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Michele
Tue Oct 08 2024
This observation underscores the inherent challenges and risks associated with investing in a relatively young and volatile asset class like cryptocurrency.
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Claudio
Tue Oct 08 2024
Simeon Hyman, the esteemed global investment strategist at ProShares, oversees the largest Bitcoin futures ETF, the ProShares Bitcoin Strategy ETF (BITO), which debuted in October 2021.
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