A theory out there is that all these wannabe bitcoins are finally be realized as frauds/crap, and so crypto consolidation should occur.
In theory, this means Bitcoin and maybe Eth, at best.
Ok…but we saw Voyager implode, so I am not using that account, and don’t feel like opening a COIN account or any other crappy crypto brokerage.
Saw this ETF called BITO seems to track bitcoin well, via bitcoin futures.
I do not believe there is the diminishing returns risk you see with leveraged ETFs, but figured I would ask if anyone else is either familiar with BITO or sees any reason why it shouldn’t just act like a stock that tracks the ups and downs of Bitcoin?
Dreamer
ps…I would only be looking for a quick 10-20% type surge. Have no faith in crypto long-term. Thinking of it akin to China ADR stocks.
Saw this ETF called BITO seems to track bitcoin well, via bitcoin futures. I do not believe there is the diminishing returns risk you see with leveraged ETFs, but figured I would ask if anyone else is either familiar with BITO or sees any reason why it shouldn’t just act like a stock that tracks the ups and downs of Bitcoin?
I know nothing… But, it seems that you are correct. A couple of articles from a year ago. Encouraging that I found nothing recent that detailed the horrors of the beast. These posts are negative in nature, but cite other friction costs.