BITO: The Most Capital-Efficient Way To Gain Exposure To Bitcoin

BITO no longer suffers contango issues and now tracks Bitcoin nearly perfectly, with little to no long-term drag on performance.It offers the unique ability to sell options and reduce basis/hedge your position, which is not currently offered with BTC-USD, GBTC, or other non-futures products.BITO has the lowest margin requirements relative to similar products, offering greater flexibility, portfolio liquidity, and leverage.It has lower expense ratios relative to similar products.With BITO, you essentially accept a bit over 1% drag relative to BTC-USD but gain access to options markets, portfolio-wide leverage and liquidity, and lack custody risks.Editor's note: Seeking Alpha is proud to welcome Greenery Financial as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to SA Premium. Click here to find out more »While The ProShares Bitcoin Strategy ETF (BITO) is not a spot ETF and doesn't hold Bitcoin (BTC-USD), it does the next best thing - and that's to hold near-dated Bitcoin futures contracts that are cash settled. Many folks in the cryptocurrency community are against futures as they fear futures - and thus "the system" or "legacy finance" - will be given control over Bitcoin's price, which can be the case if futures markets grow to be greater than spot markets. However, this is not really the case, nor is it particularly r...