However, BITO is not a perfect proxy for bitcoin, as it may have a tracking error, due to the differences between the futures market and the spot market. BITO may also have unfavorable tax implications, depending on the investor’s tax status and jurisdiction. BITO is also a risky investment, as it is exposed to the high volatility and unpredictability of the cryptocurrency market.
Therefore, BITO investors should do their own research, understand the risks and rewards, and consult a professional financial advisor before investing in BITO.
