Does that spell the end for bitcoin futures funds? So, starting with the ProShares Bitcoin Strategy ETF (BITO) in October 2021, 13 futures-based bitcoin ETFs were created. “Investor appetite will switch from products offering bitcoin futures exposure to direct bitcoin exposure,” says Kyle DaCruz, VanEck’s director of digital-assets products. Are there reasons for an investor to allocate into futures ETFs instead of spot bitcoin funds? ProShares’ second-largest crypto futures ETF, ProShares Short Bitcoin Strategy ETF (BITI) ($58 million in assets) also targets a 1.0 times inverse return on bitcoin’s price but differs because it primarily sells bitcoin futures contracts to meet its investment objective.

Source: Forbes February 19, 2024 17:01 UTC