I haven’t anticipated the launch of a security quite as much as the first Bitcoin Exchange Traded Fund (ETF), ProShares Bitcoin Strategy ETF (BITO). And when it finally hit two weeks ago, it was a ton hotter than even the most fervent enthusiasts expected.
But before you take a dive into this ETF, make sure to listen up for a sec. BITO is not all rainbows and unicorns.
What Is An Exchange-Traded Fund?
Before we get into the nitty-gritty surrounding BITO from ProShares, let’s take a step back and revisit what an ETF is under the hood.
An ETF is a type of security that tracks an index, asset, sector, or another asset. They can be designed to track a wide and diverse collection of assets or a narrower basket. They can also be created to track investment strategies.
In fact, if it’s an asset or index out there, there’s likely an ETF that can track it and let you invest in it. Continue reading "The New Bitcoin ETF BITO: What You Need To Know Right Now!"