ProShares Says BITO ETF Has Tracked Bitcoin Price Closely, Futures-Trading Concerns Are Unwarranted

From the very starting, observers speculated BITO and different futures-based ETFs would considerably underperform bitcoin as a result of prices related to rolling over, or promoting expiring futures contracts and shopping for the following set. Normally, longer-dated futures contracts commerce at a premium to these nearer to expiry, a situation generally known as contango. The contango tends to steepen throughout bull runs, and the steeper the contango, the upper the prices, and the so-called contango bleed.