ProShares Bitcoin ETF (BITO)

BITO (ProShares Bitcoin Strategy ETF) is an exchange-traded fund (ETF) managed by ProShares Advisors LLC. The ETF seeks to track the performance of the Bitcoin Futures Index, which is a benchmark that tracks the performance of bitcoin futures contracts listed on the Chicago Mercantile Exchange.

As a Bitcoin futures ETF, BITO invests primarily in bitcoin futures contracts, which are derivative financial instruments that allow investors to speculate on the future price of bitcoin. The ETF aims to provide investors with exposure to bitcoin in a regulated, transparent, and liquid investment vehicle.

The fund's holdings are typically rolled over on a regular basis, with new contracts being purchased as old ones expire.