Chart of Day: Pro Shares Bitcoin Strategy ETF (BITO) – 3/1

Bitcoin has been explosive.

At the moment, the digital currency just crossed $60,000, and could quickly see $70,000 soon. All thanks to the upcoming Bitcoin halving, a potential U.S. government shutdown, and the fear of missing out (FOMO) among traders.

One way to trade the news is with an ETF, such as the BITO 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.”

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