BITO Stock Summary and Trading Ideas (ProShares Bitcoin Strategy ETF | :BITO)

ProShares Bitcoin Strategy ETF (BITO) is the first U.S. bitcoin-linked ETF offering investors an opportunity to gain exposure to bitcoin returns in a convenient, liquid and transparent way. The Fund seeks to provide capital appreciation primarily through managed exposure to bitcoin futures contracts.

ProShares Bitcoin Strategy ETF trades on the stock market under the symbol BITO.

As of December 20, 2024, BITO stock price was flat at $24.72 with 8,814,035 million shares trading.

BITO has a beta of 0.56, meaning it tends to be less sensitive to market movements. BITO has a correlation of 0.02 to the broad based SPY ETF.

BITO has a market cap of $2.38 billion. This is considered a Mid Cap stock.

In the last 3 years, BITO traded as high as $33.79 and as low as $9.48.

BITO has outperformed the market in the last year with a return of +76.1%, while the SPY ETF gained +27.8%. In the last 3 month period, BITO beat the market returning +46.0%, while SPY returned +4.4%. However, in the most recent 2 weeks BITO has underperformed the stock market by returning -5.4%, while SPY returned -2.4%.

BITO support price is $23.89 and resistance is $25.55 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BITO shares will trade within this expected range on the day.