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ProShares says BITO ETF closely tracks bitcoin price, futures-trading concerns unwarranted

From the outset, observers predicted that BITO and different futures-based ETFs would underperform as a result of prices related to rolling over bitcoin, or promoting expiring futures contracts and shopping for the subsequent set. Sometimes, futures contracts with longer durations commerce at a premium to contracts nearer to expiration, a state of affairs often known as contango. The tempo of contango intensifies throughout a bull run, and the extra intense the contango, the upper the associated fee, and the extra so-called contango bleeds.

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