With the approval of a Bitcoin ETF, investors may want to keep an eye on The ProShares Bitcoin Strategy ETF (BITO).
If you believe the value of BTC will push higher, you can invest in the Pro Shares Bitcoin Strategy ETF (BITO). With an expense ratio of 0.95%, the ETF tracks the performance of spot Bitcoin, and is the world’s largest and most actively traded cryptocurrency ETF, according to ProShares.
BITO is mimicking the price of Bitcoin as closely as possible without investing in the cryptocurrency itself. As noted by Money, “Like all crypto ETFs, part of the allure of BITO is that investors don’t need to deal with cryptocurrency wallets and private keys but can instead invest through a broker they already use.”
As you can see in the chart above, BITO has been explosive so far – running from about $13 to $22.35 on BTC excitement. However, with BTC likely to see further buying interest, BITO could see higher highs moving forward.
Even better, Standard Chartered analysts say the “ETFs could draw $50 billion to $100 billion this year alone, potentially driving the price of bitcoin as high as $100,000,” as noted by Reuters. In short, there’s a good deal of excitement here.