BTC tracker superior to BITO, says Leonteq

Leonteq is making a case for its tracker certificate on Bitcoin to be a superior trade compared to the recently launched ProShares Bitcoin Futures (BITO) ETF which went live on 19 October   and raised US$1 billion in two days.   The Leonteq Bitcoin Tracker is based on the bitcoin spot price while the BITO ETF is based on a rolling bitcoin futures strategy using CME bitcoin futures. This strategy faces some challenges such as significant roll costs, and deleveraging in case of a contan