It is the first index investment fund (ETF) for bitcoin, which was issued in the last quarter of 2021 on the New York Stock exchange; according to this, users who interact in the diversified portfolio market see the advantage a new strategy to make digital currencies famous.
These ETFs associated with BITCOIN circulate in Canada, Asia, and Brazil. They are opened in the most profitable and essential financial markets for the first time, such as the North American stock market.
The ProShares Bitcoin Strategy ETF (BITO) is how this index fund is fully named. It tells us that its development is subject to some asset, as in this case, bitcoin, which has lately shown a lot of variability in its price.
More than 23 million shares of Bito index funds were exchanged owners for more than 1,000 million dollars, reported Bloomberg News and its calculations.
With the development and issuance of this fund to the stock market, demand and credibility are gained for bitcoin, raising its price. As a result, despite its falls, Bitcoin has recovered and continues to rise at a similar rate to the ETFBITO fund, with the vision of reaching 65 thousand dollars in its price.
It is no secret to anyone that the issuance of this new financial strategy to the market would be a total success. It is one of the most desired; it also led to the rise of cryptocurrencies.
The symbolic event, the most anticipated in the crypto economy
During the launch event of this index fund, representatives of ProShares, the organization that developed and issued this product, made an appearance in the New York Stock Exchange hall to have the honor of ringing the first bell beginning of the opening and interaction of the market.
A great advantage that differentiates it from other investment funds consists of the following, in a BITOETF, you can deposit money and withdraw it when you want, without limitations.
All investors who decide to deposit money in this new BITOETF will not be acquiring bitcoin first-hand; the money is protected in future contracts associated with this cryptocurrency.
The stock exchange entities did not show signs of resistance to the issuance of this fund, unlike other funds, where they had expressed their rejection in 2013. But they issued a tweet with a sentence that clarifies that they have doubts and criticisms about these funds' new digital assets;
Before investing in a fund that has futures contracts with bitcoin, you must be aware of the risks and the possibilities of profit were the expression.
Industry analysts gave more popularity to the launch of this product, assuming that investors interested in joining bitcoin in this way possibly have already accessed this cryptocurrency somehow.
It is estimated that the intense change was the launch in 2017 of future contracts based on bitcoin, in which the newly introduced fund is protected.
The good news is that prices are on the rise.
The scoop issued on the launch of this new fund boosted the price of bitcoin. As a result, its value increased significantly, almost by 50% for more than a month.
BITO will provide investors with a way to quickly expose them to the financial growth of bitcoin through a brokerage account, replacing the option of a wallet in a cryptocurrency EXCHANGE PLATFORM.
The year 2021 will be in everyone's memory; being the first BITOETF associated with a cryptocurrency, all ETFs were created exponentially more than 20 years ago and is valued at more than 5 billion dollars in North America, being the 70 % of the world market for these funds.
Conclusion
The world of cryptocurrencies never ceases to amaze us more and more; now, with the issuance of a sustained investment fund for bitcoin, the most popular and revalued cryptocurrency in the crypto market, even more so with the support of this BITO fund.
Investors are very interested in risking making deposits in these accounts, which are gaining more and more value and confidence, offering the possibility of growing and being part of a new world economy, which has been the most successful in recent years, overcoming many obstacles such as the current pandemic experienced throughout the world.
Investing in this fund is the best option if you want to try cryptocurrencies differently.