As the price of Bitcoin soared since first being introduced, investors have sought ways to get a piece of the cryptocurrency action. Financial firms have rushed to come up with products that feed investors’ crypto appetite, and last fall saw the arrival of a long-awaited Bitcoin futures exchange-traded fund (ETF).
The new Bitcoin-linked fund, ProShares Bitcoin Strategy ETF (BITO), gives traders a way to speculate on Bitcoin without having to buy cryptocurrency directly or set up an account with a crypto exchange. Investors can simply buy and sell the fund like they would any other stock trading on an exchange, making it simple to get started.
But experts say the road to more crypto ETFs looks bumpy, even though many fund companies would love to get a cut of the healthy fees that can be charged for running an ETF based on the trendy asset.
