BITO vs. GBTC — ETF comparison tool (2024)

FAQs

What is the difference between GBTC and BITO? ›

Performance Metrics: BITO performance is tied to the futures market, which can differ from the spot price of Bitcoin. GBTC's performance is more directly correlated with Bitcoin's worth but also subject to premiums or discounts based on market demand for the shares.

The so-called “discount” is currently at all-time highs; at the time of writing, the 1-year performance of GBTC is -34.55%, compared to -5.89% only for Bitcoin the asset. This does not factor in brokerage fees, trading fees, and other wealth management fees that investors might incur.

BITO invests in bitcoin futures and does not invest in bitcoin. There is no guarantee the fund will closely track bitcoin returns.

It's the first cryptocurrency investment instrument to receive the status of an SEC reporting company. Each share in the GBTC corresponds to 0.001 BTC, i.e., 1 BTC is equivalent to 1000 shares in GBTC.

Since its inception, BITO has closely tracked the performance of spot bitcoin, and its average daily dollar trading volume has been in the top 5% of all U.S.-based ETFs this year. Learn more about BITO and the ProShares lineup of crypto-linked ETFs below.

Summary: "the fund can only book a profit as long as the price of Bitcoin is rising. Otherwise, the fund has no way of booking a profit." "The second problem is that this fund will be in constant decay due to having to roll those futures contracts." BITO is a Bitcoin ETF that holds Bitcoin futures contracts.

We think BITO is inferior to other spot-based BTC products due to the fund's high expense ratio and futures-based approach to getting crypto exposure. High transaction costs, liquidity constraints, and a uniquely inefficient 'rolling' mechanic should cause structural underperformance vs. the underlying going forward.

BITO Dividend Information

BITO has a dividend yield of 58.69% and paid $10.32 per share in the past year. The dividend is paid every month and the last ex-dividend date was Sep 3, 2024.

According to the latest TipRanks data, approximately 88.38% of Grayscale Bitcoin Trust (GBTC) stock is held by retail investors. Who owns the most shares of Grayscale Bitcoin Trust (GBTC)? Cathie Wood owns the most shares of Grayscale Bitcoin Trust (GBTC).

Is GBTC a good buy now? ›

The Grayscale Bitcoin Invt Tr stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock.

Objective: To track the price of Bitcoin by investing in Bitcoin directly. Management: Actively managed by Fidelity's experienced team. Investment Strategy: Purchase and hold Bitcoin to provide exposure to its price movements.

The ProShares Bitcoin Strategy ETF (BITO) is designed to expose investors to the lucrative performance of Bitcoin. BITO is the first-ever Bitcoin-related ETF in the US that seeks to provide returns that correspond to the implementation of Bitcoin in the spot market.

Grayscale Bitcoin Trust ETF (BTC) Overview. The trust's Bitcoins are carried, for financial statement purposes, at fair value as required by U.S. generally accepted accounting principles (“GAAP”).

The Grayscale Bitcoin Mini Trust is a new spot bitcoin ETF that comes with lower fees and offers smaller denominations than the Grayscale Bitcoin Trust. A distribution of 10% of the existing fund's bitcoin holdings will seed the new ETF.

The Score for GBTC is 19, which is 62% below its historic median score of 50, and infers higher risk than normal. GBTC is currently trading in the 10-20% percentile range relative to its historical Stock Score levels.