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Bitcoin surges to fresh highs above $75,000, fueled by renewed debasement trades and Treasury buyback announcements. I reiterate buy ratings on Bitcoin, IBIT, and BTC, citing strong momentum, macro tailwinds, and technical support at $73,000. Implied volatility for IBIT has spiked to 40% ahead of key macro events, signaling heightened risk and opportunity.
Cryptocurrency and blockchain-related stocks surged in premarket trading on Thursday after U.S. President Donald Trump urged Congress to pass legislation establishing clear rules for the digital asset sector, following a White House meeting with industry executives.
Robert Mitchnick, head of digital assets at BlackRock, joins Isabelle Lee and Eric Balchunas on "Bloomberg ETF IQ." Hackers have stolen more than $130 million worth of Bitcoin from thousands of supposedly secure cold wallets in recent days.
I rate BITO a Sell for retail buy-and-hold investors, though it remains useful for tactical traders, options users and institutions requiring a 1940 Act vehicle. Since spot Bitcoin ETFs launched, BITO returned 21.11% versus 36.50% for IBIT, despite BITO's distributions being included in total return. BITO's 0.95% fee, futures-roll exposure and tracking differences should continue to weigh on long-term returns versus lower-cost spot exposure.
Bitcoin has reclaimed several important technical levels, and improving momentum suggests the cryptocurrency could be setting up for another advance if key resistance is cleared.
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Coinbase (NASDAQ:COIN | COIN Price Prediction) Head of Institutional Strategy John D'Agostino used a recent CNBC Squawk Box appearance to push back on the wave of skepticism that has followed a brutal stretch for crypto prices.
Bitcoin is up 84.59% over the past five years. ProShares Bitcoin Strategy ETF (NYSEARCA:BITO), the fund millions of investors bought to ride that exact wave, is down 24.26% over the same window. That gap is the hidden cost. What You're Actually Paying Start with the sticker price. BITO charges a 0.95% net expense ratio, per... BITO's 0.95% Fee Is Only Half the Problem. Here's Why Bitcoin Futures Cost You 2.9% Annually
SEC filings for BITO aren't indexed yet — common for recently launched funds. Browse the issuer's filings on SEC EDGAR directly.