Cryptocurrencies
Why You’re Probably Better Off Buying Bitcoin Than a Futures ETF
For everyday investors, new Bitcoin ETFs might be more costly and complicated than purchasing the cryptocurrency directly.
Photographer: Angel Garcia/Bloomberg
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After almost a decade of wrangling with regulators, the ETF industry has finally gotten a fund that tracks the price of Bitcoin. But at this point, it may be easier and cheaper for the average investor to just buy Bitcoin.
The ProShares Bitcoin Strategy ETF — ticker BITO — began trading Tuesday in a landmark moment for the $6.8 trillion ETF industry. In the first hour and a half of trading alone, more than $400 million worth of shares changed hands.