It’s BITO vs. GBTC vs. BTC as Bitcoin ETF Wars Heat Up

Posted on by American Coins & Gold

It’s BITO vs. GBTC vs. BTC as Bitcoin ETF Wars Heat Up
The ProShares Bitcoin Strategy exchange-traded fund (stock ticker BITO) turned heads last week when it hauled in more than $1 billion of assets in two days, the fastest ETF ever to hit that milestone.But so far, the new ProShares fund’s returns are falling short of the performance of bitcoin in cryptocurrency markets – the very thing the ETF was supposed to track. BITO is also underperforming the Grayscale Bitcoin Trust, or GBTC, which at $35.23 billion is the world’s largest bitcoin fund.From Oct. 19, when the ProShares ETF started trading, through Tuesday, BITO shares were down by 2.45%, based on…