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Upturn AI SWOT - About
ProShares Bitcoin Strategy ETF (BITO)
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Upturn Advisory Summary
04/22/2025: BITO (3-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Moderate Performance
These Stocks/ETFs, based on Upturn Advisory, typically align with the market average, offering steady but unremarkable returns.
Analysis of Past Performance
Type ETF | Historic Profit 15.3% | Avg. Invested days 27 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  2.0 | ETF Returns Performance  3.0 |
| Profits based on simulation | Last Close 04/22/2025 |
Key Highlights
Volume (30-day avg) 6155675 | Beta - | 52 Weeks Range 11.24 - 24.18 | Updated Date 04/23/2025 |
52 Weeks Range 11.24 - 24.18 | Updated Date 04/23/2025 |
Upturn AI SWOT
ProShares Bitcoin Strategy ETF
ETF Overview
Overview
The ProShares Bitcoin Strategy ETF (BITO) offers exposure to bitcoin futures contracts, rather than direct investment in bitcoin, aiming to profit from the daily price movements of bitcoin futures contracts.
Reputation and Reliability
ProShares is a well-established ETF issuer known for innovative and often complex ETF products.
Management Expertise
ProShares has significant expertise in managing futures-based ETFs.
Investment Objective
Goal
To seek capital appreciation primarily from exposure to bitcoin futures contracts.
Investment Approach and Strategy
Strategy: The ETF does not directly hold bitcoin but seeks exposure through investing in bitcoin futures contracts.
Composition Primarily holds front-month bitcoin futures contracts traded on the Chicago Mercantile Exchange (CME).
Market Position
Market Share: BITO was the first bitcoin-linked ETF in the US and initially captured a significant share of the market.
Total Net Assets (AUM): 2142935523
Competitors
Key Competitors
- Valkyrie Bitcoin Strategy ETF (BTF)
- VanEck Bitcoin Strategy ETF (XBTF)
- Global X Blockchain & Bitcoin Strategy ETF (BITS)
Competitive Landscape
The bitcoin futures ETF landscape is competitive with multiple funds vying for investor capital. BITO has a first-mover advantage, but faces competition from BTF, XBTF and BITS, which provide similar bitcoin futures exposure. Advantages of BITO are its high trading volume and brand recognition while disadvantages include futures contracts tracking errors and contango issues affecting its performance.
Financial Performance
Historical Performance: Historical performance is heavily influenced by bitcoin price fluctuations, with significant volatility. Data must be sourced from financial databases.
Benchmark Comparison: There isn't a direct benchmark. Comparing to bitcoin spot price offers insight.
Expense Ratio: 0.95
Liquidity
Average Trading Volume
BITO generally has high trading volume, making it relatively easy to buy and sell shares.
Bid-Ask Spread
The bid-ask spread is typically tight due to its high liquidity.
Market Dynamics
Market Environment Factors
The ETF's performance is driven by overall market sentiment towards cryptocurrency, regulatory developments, macroeconomic conditions, and the futures market.
Growth Trajectory
Growth is tied to the adoption and acceptance of bitcoin, with potential shifts in strategy based on regulatory changes and market conditions.
Moat and Competitive Advantages
Competitive Edge
BITO's competitive edge lies in being the first bitcoin futures ETF in the US, giving it brand recognition and a substantial AUM lead. It has high trading volume, enhancing liquidity, and benefits from ProShares' experience in managing futures-based ETFs. However, its returns can diverge from spot bitcoin due to contango and futures roll costs. These factors create both advantages and challenges in the highly volatile crypto market.
Risk Analysis
Volatility
Very high volatility is expected due to the inherent price fluctuations of bitcoin and the use of futures contracts.
Market Risk
Significant market risk exists due to the volatility of bitcoin and potential regulatory changes affecting the cryptocurrency market.
Investor Profile
Ideal Investor Profile
Investors with a high-risk tolerance seeking short to medium-term exposure to bitcoin price movements through futures contracts, rather than direct bitcoin ownership.
Market Risk
Best suited for active traders or those looking for tactical exposure to bitcoin; less suitable for long-term, passive investors.
Summary
ProShares Bitcoin Strategy ETF (BITO) offers exposure to bitcoin futures contracts, providing a regulated and accessible way for investors to participate in the bitcoin market. Its performance is strongly influenced by bitcoin price fluctuations and the dynamics of the futures market. While it benefits from high liquidity and brand recognition, its returns may deviate from spot bitcoin due to contango and futures roll costs. BITO is best suited for active traders with a high-risk tolerance seeking short to medium-term exposure to bitcoin, but less suitable for long-term passive investors.
Similar Companies
BITS
Global X Blockchain & Bitcoin Strategy ETF
BITS
Global X Blockchain & Bitcoin Strategy ETF
BTF
Valkyrie Bitcoin Strategy ETF
BTF
Valkyrie Bitcoin Strategy ETF
Sources and Disclaimers
Data Sources:
- ProShares website
- ETF.com
- SEC filings
Disclaimers:
The data and analysis provided are for informational purposes only and should not be considered investment advice. Investment decisions should be based on individual circumstances and professional consultation.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About ProShares Bitcoin Strategy ETF
Exchange NYSE ARCA | Headquaters - | ||
IPO Launch date - | CEO - | ||
Sector - | Industry - | Full time employees - | Website |
Full time employees - | Website | ||
The fund adviser seeks to achieve its investment objective primarily through managed exposure to bitcoin futures contracts. The fund does not invest directly in bitcoin. The fund adviser will generally hold its bitcoin futures contracts during periods in which the value of bitcoin and bitcoin futures are flat or declining as well as during periods in which the value of bitcoin or bitcoin futures is rising. It is non-diversified.
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