Bitcoin ETFs (exchange-traded funds) are continually gaining traction and the first Bitcoin ETF, the ProShares Bitcoin Futures ETF called BITO, is scheduled to make its debut today.
After ProShares Bitcoin futures ETF, there are three more Bitcoin Futures ETFs lined up for review this month with the next being expected to be launched as soon as next week.
To help new investors and traders eyeing to invest in Bitcoin ETFs, Invezz has created a brief article to assist them with understanding what Bitcoin EFTs are and identifying the best places to buy them.
To find out more, please continue reading.
Best places to buy BITO Bitcoin ETF
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What is BITO Bitcoin ETF?
BITO is a Bitcoin futures ETF by ProShares and it is scheduled to make its debut on NYSE today.
ProShares is an American provider of specialized exchange-traded products such as leveraged, inverse, and volatility exchange-traded instruments
Bitcoin ETFs refer to Bitcoin exchange-traded funds which are funds traded over exchanges like New York Stock Exchange (NYSE) or the American NASDAQ Stock Market.
Cryptocurrency ETFs like Bitcoin ETFs enable traders to trade cryptocurrencies without having to hold the cryptocurrencies like Bitcoin in wallets. The only difference between cryptocurrency ETFs and traditional ETFs is that while the cryptocurrency ETFs track index or basket of assets, cryptocurrency ETFs track one or more cryptocurrencies.
Should I buy the BITO Bitcoin EFT today?
If you are looking for ways of investing in Bitcoin without purchasing the actual cryptocurrency, then Bitcoin ETFs are some of the best ways to invest and BITO is the first Bitcoin EFT to be launched.
By investing in Bitcoin ETFS, you do not have to worry about things like secure wallets to store your Bitcoin or worry about the volatility of the cryptocurrency market.
Future of Bitcoin ETFs
Investors have been eagerly awaiting the launch of Bitcoin-linked ETFs for years and the Proshares Bitcoin futures ETF “BITO” is expected to start the ball rolling with more Bitcoin ETFs expected to roll out in the coming weeks.
Bitcoin EFTs media coverage
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