The ProShares ETF is structured to invest in bitcoin futures contracts traded on the Chicago-based CME, rather than investing in the cryptocurrency directly. So the ETF by itself won’t introduce any new demand for bitcoin. However, traders might buy more bitcoin as they look to hedge against the futures price or take advantage of pricing disparities.
- Bitcoin Hits 6-Month High as First Bitcoin Futures ETF ‘BITO’ Starts Trading
Written by Bankerage Published on October 20, 2021