Proshares Strategy Bitcoin ETF (NYSE: BITO) – BUY A QUARTER
We are adding the Proshares Strategy Bitcoin ETF, ticker symbol: BITO to our stock portfolio today. We are purchasing a quarter of our expected total position of 10%. There are several reasons why we may increase the weight to overweight and bring our total holdings over 10% in time. We highlight these below.
Investment Highlights
- The underlying assets held in this ETF are futures contracts traded on the Chicago Mercantile Exchange (CME)
- As a result, this ETF was approved by the SEC in October of 2021
- The ETF is highly regulated and approved by both the SEC and the CFTC
- The agency has issued public statements classifying Bitcoin and Ethereum as commodities
- By owning this ETF, you incur no risk of losing your seed phrase or password for a personal wallet to hold BTC
At a price of $25, with lower Beta, we see BITO as a more attractive way to own BTC at this time. This ETF allows you to own BTC at a price you can afford and allocate a position according to your own budget and investing goals.