BITO ETF Price Predictions 2023-2032
BITO ETF Price Prediction 2023 – up to $17.65
BITO ETF Price Prediction 2026 – up to $34.18
BITO ETF Price Prediction 2029 – up to $45.40
BITO ETF Price Prediction 2032 – up to $78.97
U.S. securities regulators have rejected listings for two proposed ETFs based on spot Bitcoin (BTC-USD) trading. Authorities continued to show skepticism about creating such exchange-traded funds amid government worries about a lack of visibility in cryptocurrency markets. But for Proshares Bitcoin Strategy ETF (BITO), it’s business as usual.
The ProShares Bitcoin ETFs are the most popular in the market. The BITO ETF offers long exposure, while the much newer BITI ETF allows investors to capitalize on short exposure. BITI, being launched in a bear market, grew quickly in terms of BTC exposure.
Source: Proshares.com
Front-month Bitcoin futures returns assume front-month contract exposure is rolled to the next expiring contract one day prior to expiration. Bitcoin returns measured using Bloomberg Galaxy Bitcoin Index. The performance quoted represents past performance and does not guarantee future results. The spot bitcoin index performance does not reflect any costs associated with investing directly in bitcoin. Indexes are unmanaged and one cannot invest directly in any index.
How much is BITO ETF worth?
Today’s BitoPro Exchange Token price is $0.055240 with a 24-hour trading volume of $1,339.28. The BitoPro Exchange Token is up 0.55% in the last 24 hours. The current CoinMarketCap ranking is #5587, with a live market cap of not available. The circulating supply is not available and a max. supply of 500,000,000 BITO coins.
Since inception, BITO has returned -36.5% versus -33.5% for spot Bitcoin. Historically, bitcoin futures returns have exhibited, relative to spot bitcoin returns, a very high correlation and a beta of near one.
BITO vs. GBTC
BITO sold $290M worth of shares in just the first 20 minutes of trading, but the outlook is different now, with Bitcoin in a slump as the rest of the crypto market.
It was one of the biggest first days of trading history, raking in more than half a billion from investors. Still, crypto investors are on the lookout for 2022 for the approval of the first spot bitcoin exchange-traded fund in the United States.
Although the Securities and Exchange Commission greenlighted the launch of ProShares’ Bitcoin Strategy ETF this year, the product tracks Bitcoin futures contracts rather than giving investors direct exposure to the cryptocurrency itself.
Grayscale Investments (GBTC) has filed to convert its bitcoin trust, the world’s biggest bitcoin fund, into a spot ETF. And there are plenty of other bitcoin ETF applications waiting in the wings. GBTC is a trust that holds Bitcoin but trades like a closed-end fund.
Therefore, GBTC can trade at a huge discount or premium to the underlying price of Bitcoin, which can either enhance or detract from an investor’s total return. BITO is an ETF that holds bitcoin futures contracts
What that tells us is where money is today. And 75% is sitting in open-ended mutual funds, but that number has been steadily shrinking because money has been flowing more rapidly into ETFs than it has in mutual funds,” Morningstar’s Johnson said.
Rosenbluth, the head of ETF and mutual fund research at CFRA said that thematic ETFs have seen a steady climb, with the focus having shifted to electric vehicles and infrastructure in 2021, compared with cloud computing and cybersecurity in the prior period.
Investors have over 200 thematic ETFs to consider for 2022 as they look to identify the next long-term trend.
Launching of BITO ETF – a looking back
Trading under the ticker BITO, the fund gained as much as 5.4% to $42.15 before paring gains and turning negative at one point. Still, more than 18 million shares worth roughly $740 million changed hands by around 1:24 p.m. in New York, according to data compiled by Bloomberg.
Bitcoin made a run at its record high, gaining as much as 3.4% to trade around $63,475 in November 2021, slightly below its April all-time high of just under $65,000. BITO was up about 1.56% after rising 3% to $41.22 in early action.
After the application was put forth to the SEC for approval of a Bitcoin ETF, it was revealed that a futures ETF has a higher chance of being approved.
This Bitcoin futures ETF is led forth by ProShares. Furthermore, it is legal for the ProShares Bitcoin Strategy ETF to be listed on the New York Stock Exchange. Before you start trading Bitcoin futures ETF using BITO, it is essential to check out this BITO ETF price prediction.
Whereas the ProShares fund offers regulated exposure to Bitcoin, it will come at a price to investors. The BITO fund will charge an annual management fee (an expense ratio) of 0.95 percent.
ProShares Bitcoin-linked ETF
ProShares Fund will invest in Bitcoin while exposing the BTC futures trading on Chicago Mercantile Exchange or CME. The futures market is a volatile field in which investors can indirectly invest using the ProShares ETF, which provides exposure to Bitcoin.
After the approval of this ETF, Bitcoin soared to higher levels, and as a result, investors are bullish. ProShare celebrated this new development in the industry through a ceremony at a press conference wherein the prominent members rang their bell of success.
BITO Highlights
In October 2021, ProShares released the first bitcoin ETF on the market. In the first few days, it saw growth of $1 billion. In keeping with the crypto winter, which saw bitcoin drop 70% of its all-time high value, the ETF has declined sharply since its inception. On Nov. 10, 2021, the value of the cryptocurrency was $68,000. On Aug. 31, 2022, it was less than $20,000.
According to Forbes, the ProShares BITO ETF also owns cash and Treasury securities in addition to bitcoin futures, which offers some variety and protection from the crypto winter. The ETF is now selling at slightly less than $12 a share, which may provide a chance to enter the market without making a sizable investment.
Consider ProShares Short bitcoin ETF if you are negative on Bitcoin and feel the current crypto winter will continue without a recovery in sight (BITI). The ProShares Short bitcoin ETF, in contrast to the other ETFs on this list, is betting on a further drop in the price of bitcoin. It was introduced in June 2022, just before the crypto winter, and has since started to rise. There is still time to invest in BITI because some analysts predict that the crypto winter may break by 2023 or 2024.
Here is a comparison of 6 Bitcoin-ETFs approved for trading by the SEC in the United States. There are currently 25 additional Bitcoin ETF filings waiting for SEC approval, some of which are for funds that directly own Bitcoin.
Source: Forbes.com BITO Technical Analysis
As seen on the 4-hour price chart for Proshares Bitcoin Strategy ETF, the fund’s price action is trending upwards ‘for the first time since November 2021 but has faced rejection at $13.77. The Relative Strength Index shows that BITO ETF is currently overbought; the trend is also confirmed by the Bollinger Band – this could be an indication of a price reversal if sell-offs occur around the resistance levels.
Proshares Bitcoin Strategy ETF Price Predictions by Cryptopolitan
Individuals who want exposure to Bitcoin but don’t want to actually hold the cryptocurrency can continue to invest through the BITO ETF. However, despite the fact that it offers some measure of protection against the high levels of price volatility that are commonly associated with crypto assets, it is not invulnerable to stock market setbacks and should be approached with the utmost caution.
Will Proshares Bitcoin Strategy ETF be a profitable investment tool? Here’s what we think about the asset:
Year Minimum Price ($) Average Price ($) Maximum Price ($) 2023 12.09 15.78 17.65 2024 14.45 20.06 23.84 2025 15.67 22.49 27.78 2026 18.25 25.86 34.18 2027 23.49 29.60 37.29 2028 28.92 36.50 41.30 2029 36.56 40.20 45.40 2030 41.05 47.54 51.96 2031 46.23 53.43 64.52 2032 57.10 66.30 78.97
Proshares Bitcoin Strategy ETF Price Prediction 2023
Our Proshares Bitcoin Strategy ETF Price Prediction for 2023 indicates that BITO ETF will continue rising, leading to a maximum price of $17.65, an average value of $15.78, and a minimum price of $12.09.
Proshares Bitcoin Strategy ETF Price Prediction 2024
Since the BITO ETF has substantial holdings in Bitcoin futures, its growth could be influenced by Bitcoin’s price. The Proshares Bitcoin Strategy ETF price prediction for 2024 assumes that the underlying asset will continue its upward trend, assuming that Bitcoin’s value does not drop dramatically during the year, resulting in a maximum price of $23.84, a minimum price of $14.45, and an average value of $20.06.
Proshares Bitcoin Strategy ETF Price Prediction 2025
Our Proshares Bitcoin Strategy ETF price prediction for 2025 anticipates a maximum price of $27.78 for BITO ETF. The projections are set at a minimum price of $15.67, and an average trading price of $22.49.
Proshares Bitcoin Strategy ETF Price Prediction 2026
Our Proshares Bitcoin Strategy ETF Price Prediction for 2026 indicates that BITO ETF will trade at an average price of $25.86 and a maximum price of $34.18. For this year, we expect a minimum market price to be $18.25.
Proshares Bitcoin Strategy ETF Price Prediction 2027
Per our Proshares Bitcoin Strategy ETF price predictions for 2027, BITO ETF will reach a maximum price of $37.29 and a minimum price of $23.49, respectively. The projected average price is $29.60.
Proshares Bitcoin Strategy ETF Price Prediction 2028
Based on our Proshares Bitcoin Strategy ETF price predictions for 2028, investors can expect BITO ETF to attain a maximum price of $41.30. The average forecast price is $36.50, and the minimum price is $28.92.
Proshares Bitcoin Strategy ETF Price Prediction 2029
Our Proshares Bitcoin Strategy ETF Price Prediction for 2029 indicates that BITO ETF will trade at an average price of $40.20 and a maximum price of $45.40. For this year, we expect a minimum price to be $36.56.
Proshares Bitcoin Strategy ETF Price Prediction 2030
According to our BITO ETF price prediction for 2030, the stock could surpass its all-time high value of $44.27 to reach a maximum price of $51.96. The predicted average trading price of BITO ETF is $38.62, and its minimum price is $31.56.
Proshares Bitcoin Strategy ETF Price Prediction 2031
We estimate a maximum market price of $64.52 for the Proshares Bitcoin Strategy ETF if it maintains an upward trend until 2031. Our Proshares Bitcoin Strategy ETF Price Prediction for 2031 projects a minimum price of $46.23, and an average market value of $53.43. Therefore, by 2031, the price of an ETF unit could be as much as five times its current price.
Proshares Bitcoin Strategy ETF Price Prediction 2032
Our Proshares Bitcoin Strategy ETF Price Prediction for 2032 indicates that BITO ETF will continue rising, leading to a maximum stock price of $78.97, an average value of $66.30, and a minimum price of $57.10.
Wallet Investor BITO Price Prediction
Wallet Investor is pessimistic about the future of the BITO ETF. By 2024, they expect bear markets leading to the assets falling by 95%, to $0.649.
Coinarbitragebot BITO ETF Price Prediction
Coinarbitragebot forecasts a bullish picture for long-term traders using historical price data as their foundation. Their price prognosis suggests that the stock’s value will increase to $20.64 by the end of this year, which would represent a 39.52% increase in market capitalization and stock price. According to Coinarbitragebot’s projections, the price of BITO ETF on the market will rise to $38.42 in 2024. They anticipate that the price of BITO ETF will reach a closing price of $62.16 by the year 2025, which would be approximately six times its current trading price.
BITO Price Prediction by Gov.Capital
Gov Capital employs a one-of-a-kind algorithm that is based on Deep Learning to provide investors with assistance in determining whether or not it is a good idea to add BITO to their existing portfolios. These projections take into account a variety of factors, such as shifts in volume and price, shifts in market cycles, comparable stocks, and other market conditions. The prediction method projects a bearish price movement for the stock in the coming months, taking the BITO’s value to as low as $0.2057 by April 2023.
BITO Price Prediction by Industry Influencers
Since BITO ETF mimics the price prediction for Bitcoin, a good strategy would be to study Bitcoin price movements but invest in BITO ETF when you need to make your crucial move. DYOR but please invest only with amounts you are willing to lose.
Source: GNF Conclusion
Investing in Bitcoin ETF relies on your investment plan, per our BITO ETF price projection. The ProShares ETF should be your first choice if you are new to cryptocurrency and want to start off with minimal risk. One of the most popular assets on the Fidelity platform that received more than 7,500 buy orders from users was the BITO ETF.
Among registered financial advisors, there are doubters about a Bitcoin ETF tied to futures (RIAs). Investors are also wary of the complexity of a futures-oriented product compared to spot cryptocurrency trading. Even while economic actors may have different opinions about the possibilities for the new ETF, most agree that it constitutes a big legislative triumph for the bitcoin community. It is anticipated that the exchange-traded fund would provide new opportunities in this sector. Whether it’s a good investment or not is entirely up to the investors.
As always, it is highly advised to do your own research and never invest more money than you can afford to lose, and seek investment advice.
If you are convinced that you can handle the volatility of BTC and have firm faith in blockchain-based projects, you can go ahead with direct investment in crypto. Although the BITO ETF sounds good, some crypto backers who want to trade bitcoin directly argue that this will create an extra cost for end-users. Something which you could avoid by using cash markets. Investors need to be particularly aware of what they’re buying and how it’s likely to perform.
Before you move on if you want to learn more about long-term cryptocurrency price predictions, visit here.
