BITO: The New BitCoin ETF!

BITO: Proshares Bitcoin Strategy ETF

This is an editorial edutainment post.

@markizano.draconus

Let's talk about the new ##Bitcoin ##ETF ! ##Crypto ##CryptoTalk ##investing ##BITO

♬ original sound - Markizano Draconus

This is the ticker symbol for the new ETF on the market today as of 2021-10-18. This ETF will not be what you'd expect since it's not a traditional ETF. In most cases, when you buy into an ETF, it will go and buy an equivalent amount of the underlying asset. If there are underlying stocks, real estate, or precious metals like gold and silver, the ETF would go and purchase the actual underlying asset.

Indirectly, this can impact the price of Bitcoin, but not in the way you would think and by no means would it be predictable nor consistent for at least five years (personally, I believe).
This does two major things that I see:

• It gives institutions that must abide by financial governance ability to invest in Bitcoin without owning it.
• It re-creates the same issue with gold into fiat in that they are dilluting the value of a promise in place of the actual asset itself.

I also believe this is a great first step for the long-term investor who might still be skeptical of the Power of BitCoin™ and its possiblity and potential. The Future of Finance is now and we are witnessing its construction.

What do you think?
Drop a comment below.