Crypto enthusiasts had reason to cheer last week as digital currencies notched another milestone: the first U.S. bitcoin futures exchange-traded fund.
Investors rushed in. The ProShares Bitcoin Strategy ETF (BITO) had the second-biggest trading debut for any ETF on record when it launched Oct. 19. Its share price jumped 4%. A similar fund, the Valkyrie Bitcoin Strategy ETF (BTF), started Friday.
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However, cost-conscious investors who want exposure to bitcoin and other cryptocurrencies in their portfolios may be better off buying them outright
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