bito stock price: BITO ETF overview
BITO (ProShares Bitcoin ETF) — Stock price
bito stock price commonly denotes the market trading price of BITO, the ProShares Bitcoin Strategy ETF (ticker: BITO) listed on NYSE Arca. The phrase is also used when investors compare the ETF’s market price to its net asset value (NAV) or its indicative intraday value. This guide describes how to read and interpret the bito stock price, how the fund obtains bitcoin exposure through futures, the factors that cause premiums and discounts, and practical guidance for following price and NAV updates.
Overview
BITO is a regulated exchange-traded fund that aims to provide exposure to bitcoin price movements via CME-listed cash-settled bitcoin futures contracts rather than by holding spot bitcoin. Investors referencing the bito stock price may mean the live market quote (what they would pay to buy shares via brokerage), the official NAV, or the intraday indicative value published by the fund. Understanding the differences among those values is essential for assessing execution cost, tracking behavior and the effect of futures market dynamics on returns.
Fund identity and basic facts
Ticker, exchange and issuer
Ticker: BITO. Exchange: NYSE Arca (traded during U.S. equity market hours). Issuer/Advisor: ProShare Advisors (ProShares). When investors check the bito stock price, that market quote is the live exchange price on NYSE Arca.
Inception and name history
BITO launched in October 2021 to offer investors familiar ETF mechanics for gaining bitcoin exposure via regulated futures. As of the fund launch date (October 19, 2021), ProShares introduced BITO following regulatory approvals related to futures-based bitcoin ETFs. The fund’s core branding has remained as a ProShares Bitcoin Strategy ETF (BITO) since inception; there have been no material name changes through the most recent fund documentation.
Expense ratio and fees
BITO’s stated annual expense ratio reported in the fund prospectus is 0.95% (management fee and fund expenses). In practice, investors experience additional implicit costs that affect the realized bito stock price return: futures roll costs, bid/ask spreads when trading, and taxes on distributions. The expense ratio is explicit and reported by the issuer; futures roll and trading costs appear as tracking drag in performance relative to spot bitcoin.
Investment strategy and holdings
Futures-based exposure
BITO gains exposure to bitcoin price movements primarily via cash-settled CME bitcoin futures contracts (typically front-month and near-term contracts). The ETF does not hold spot bitcoin. Because the fund uses futures, the observed bito stock price will reflect both expectations for future bitcoin prices and costs inherent in maintaining a futures position (such as roll yield when contracts expire).
Subsidiary and operational mechanics
To comply with investment and custody rules, many futures-based commodity or digital-asset ETFs operate through a wholly owned subsidiary (often a Cayman or similar entity) that holds the futures exposure, while the parent fund holds cash and short-term instruments. The fund periodically rolls futures contracts—selling contracts approaching expiry and buying longer-dated contracts—to maintain exposure. Roll timing and execution affect realized returns: if the futures curve is in contango (longer-dated contracts priced higher than near-term), rolling typically incurs a negative roll yield; in backwardation, rolling can add positive roll yield. These dynamics feed into the fund NAV and, over time, into movements of the bito stock price.
Portfolio composition
Typical portfolio mix for BITO includes a majority allocation to CME bitcoin futures contracts (via the subsidiary), plus cash equivalents, collateral assets and short-term instruments used to meet margin and liquidity needs. The NAV that underlies the bito stock price comes from the combined value of these components net of liabilities and fees. Because a non-trivial portion of the fund may be held in cash or cash equivalents to manage margin and redemptions, short-term interest rates and cash yields can also subtly affect NAV.
Price mechanics
Market price vs. NAV
The bito stock price as quoted on NYSE Arca is the live market price at which shares trade. NAV per share is computed by the fund based on the value of its underlying holdings (futures positions, cash, short-term instruments) divided by shares outstanding. Market price can trade at a premium or discount to NAV when supply-demand imbalances or market-maker activity diverge from the value of underlying assets. Authorized participants (APs) and market makers typically arbitrage away large, persistent premiums/discounts by creating or redeeming shares, but intraday differences can persist during periods of stress or volatility.
Indicative/Intraday values and liquidity
Funds that track non-traditional assets publish an indicative intraday value (often every 15 seconds) so traders and investors can compare the live bito stock price to an updated NAV estimate. Liquidity metrics—such as average daily trading volume, quoted bid/ask spreads and the size of principal market makers’ quotes—impact how close the market price typically stays to NAV. When liquidity evaporates or when futures markets are dislocated, the bito stock price can show larger deviations from NAV until APs step in.
Dividend/distribution treatment and effect on price
BITO declares distributions (typically monthly) that may include net investment income, realized gains or return of capital components as required by tax rules for U.S. registered funds. On an ex-distribution date, the bito stock price and NAV typically drop by the amount of the distribution (all else equal) because value is paid out to shareholders. Investors who track the fund should check distribution history and upcoming record/ex-dividend dates to understand short-term price movements around distribution events.
Historical price and performance
Price history and notable ranges
To analyze the bito stock price over time, investors review daily close values, 52-week high/low, and all-time high/low. Common reference points include launch-day performance (October 2021), periods of strong bitcoin spot rallies or selloffs, and episodes of rising contango in the futures market. When presenting historical series, many analysts display both market price and NAV series to highlight tracking differences that arise from futures roll costs and fund flows.
Total return and performance metrics
Performance measures for BITO include price return (change in bito stock price), NAV return (change in NAV per share), and total return (including distributions reinvested). For fair comparisons to spot bitcoin, it is important to use NAV or total return instead of raw market price alone, because futures-based exposures can systematically underperform or outperform spot depending on the shape of the futures curve and on fee/roll costs.
Factors driving historical performance
Drivers of the bito stock price historically include the movement of bitcoin spot prices (which set the direction of futures prices), the term structure of the futures market (contango or backwardation), macroeconomic conditions that affect risk assets and commodity futures, and fund flows into or out of BITO. Sharp Bitcoin spot moves or sudden changes in futures liquidity commonly produce quick moves in both NAV and market price.
Trading statistics and market data
Volume, AUM and shares outstanding
Average trading volume, assets under management (AUM), and shares outstanding are key metrics for judging how easily an investor can transact in BITO without moving the bito stock price. Higher AUM and steady daily volume tend to compress bid/ask spreads and reduce the likelihood of persistent NAV-market price dislocations. Fund issuers publish AUM and shares outstanding daily in fund disclosures, and exchanges publish intraday trade volumes that market data providers aggregate for 30‑ and 90‑day averages.
Volatility and beta
Volatility metrics for BITO—standard deviation of returns, implied volatility from option markets (if available), and beta to bitcoin spot—help investors understand the magnitude of typical moves in the bito stock price. Because BITO tracks futures contracts not the spot asset, its correlation to spot bitcoin is high but not perfect; roll costs and timing differences can cause short- to medium-term divergence in realized volatility and beta.
Options and derivatives market
Options may be available on BITO in U.S. options markets; existence and liquidity of options can influence implied moves for the ETF. When options are actively traded, they provide information about expected volatility and downside protection pricing, which in turn can affect large market orders and the bito stock price during high-uncertainty periods.
Risks and considerations
Futures-specific risks (contango/roll cost)
A primary structural risk for BITO is the futures roll cost associated with contango: when longer-dated futures trade at a premium to near-term contracts, repeated rolling from near-month to next-month contracts can produce a negative roll yield that erodes NAV relative to spot bitcoin. This mechanism is a frequent driver of sustained underperformance of the bito stock price versus spot bitcoin during prolonged contango periods.
Market/price volatility
BITO shares can exhibit high price volatility because the underlying futures positions react to rapid changes in sentiment and spot prices. While the ETF vehicle limits certain custody and direct-holding risks for retail investors, the bito stock price remains exposed to the same extreme price moves seen in the underlying bitcoin market—often amplified by leverage or liquidity stress in futures markets.
Tracking error and operational risks
Tracking error—difference between the ETF’s NAV or market price returns and the benchmark (e.g., spot bitcoin or a bitcoin futures index)—can originate from fees, futures roll, timing differences, collateral returns, and operational issues. Counterparty exposure in futures margining, execution risk when rolling large positions, and administrative or settlement errors are operational considerations that affect NAV and the bito stock price. Regulatory changes or changes in the CME futures contract specifications could also impact how the fund is managed and how closely the bito stock price follows spot moves.
Tax and regulatory considerations
Tax treatment of distributions and redemptions
Distributions from BITO are reported to shareholders and treated according to U.S. tax rules; they may include ordinary income, capital gains, or return of capital components depending on realized fund activity. Tax treatment varies by investor type and jurisdiction; investors should consult tax advisors. Distributions reduce NAV and, by extension, can affect the observed bito stock price on ex-dividend dates.
Regulatory status and oversight
BITO operates as a U.S.-registered exchange-traded fund subject to SEC oversight and the rules governing commodity futures (including oversight and clearing via CME and derivatives regulators such as the CFTC). As of key regulatory milestones around the fund’s launch in 2021, the SEC allowed futures-based bitcoin ETFs while the treatment of spot-backed ETFs evolved separately. Regulatory updates affecting futures markets, ETFs or derivatives can influence investor perception and therefore the bito stock price.
Comparison with other Bitcoin ETFs and spot exposure
Futures-based vs. spot-based ETFs
BITO uses a futures-based approach. Compared with a spot-based ETF (which would hold underlying bitcoin), futures-based ETFs typically face roll costs, different tax profiles, and sometimes higher tracking error relative to spot. Spot-based ETFs may track the bitcoin spot price more directly but can involve custody differences and different issuer structures. The choice between futures-based and spot-based exposure affects how the bito stock price will behave relative to the BTC spot market.
Peer funds and alternatives
Investors considering BITO should weigh other regulated vehicles that offer bitcoin exposure: other bitcoin futures ETFs, spot-backed ETFs (where available and permitted), and non-ETF investment vehicles such as bitcoin trusts. Structural differences—spot vs. futures exposure, expense ratio, distribution policy and tax treatment—drive variation in NAV and market price behavior, and therefore in how each vehicle’s public quotation (e.g., the bito stock price) tracks underlying bitcoin movements.
How to interpret and follow “BITO stock price”
Where to find reliable price data
Reliable sources for tracking the bito stock price include: the exchange quote feed (NYSE Arca), the fund’s official daily NAV and fact sheet (from ProShares), and reputable financial-data providers (e.g., TradingView, CNBC, Investing.com). For NAV-based information check the fund’s published NAV and the fund prospectus. Note that some public quote feeds include small delays—official NAV disclosures and the issuer’s fact sheet provide definitive daily NAV and distribution details.
Common analyses investors perform
Investors commonly check the premium/discount of the bito stock price to NAV, recent AUM and flows, the fund’s distribution schedule, and snapshots of the CME bitcoin futures curve (to understand contango/backwardation). Quick checks often include 1) percentage difference between market price and NAV, 2) 30-day average trading volume, 3) recent distribution amounts and ex-dates, and 4) recent changes in the front-month vs. next-month futures spread to anticipate roll cost impact.
Notable events and market reception
Fund launches, large inflows/outflows, and corporate/market news
Major inflows or outflows into BITO can materially move the bito stock price if they force large creations/redemptions or alter the supply-demand balance for ETF shares. Launch-day headlines in October 2021 and subsequent flow announcements were widely reported and corresponded to notable trading volume and volatility in the bito stock price. Investors should monitor fund flow reports and issuer announcements to understand short-term pressure on the market price.
Dividend announcements and record dates
Distribution announcements—amounts and record/ex-dividend dates—lead to price adjustments in NAV and the observable bito stock price. Historical patterns show that monthly distributions create repeatable calendar effects on ex-dates; savvy investors monitor distribution magnitude and the fund’s stated sources (income vs. realized gains) when interpreting short-term price moves.
Research, technical analysis and price commentary
Fundamental vs. technical perspectives
Fundamental analysis of the bito stock price focuses on the structural mechanics of futures, roll yield, fund flows and macro factors affecting bitcoin futures. Technical analysis looks at chart patterns, moving averages, support/resistance levels and momentum indicators on the ETF’s market price to inform shorter-term trading decisions. Both approaches are used by different investor types—long-term holders often emphasize fundamentals and tracking costs, while traders emphasize intraday liquidity and technical signals.
Typical metrics and charts to include
Useful visuals when discussing the bito stock price are: price chart (market price vs. NAV), premium/discount chart, rolling yield chart derived from the futures curve, AUM and flow time series, and daily volume/bid-ask spread charts. These charts help illustrate how futures term structure and flow dynamics translate into NAV changes and market price behavior.
Practical investor guidance
How to buy/sell BITO
Retail investors buy or sell BITO shares through standard brokerage accounts during U.S. equity market hours using the ticker BITO. Trades execute on NYSE Arca at the live bito stock price plus commissions/fees. For best execution consider using limit orders to control entry price and to limit the impact of spreads during volatile periods. For custody and wallet needs related to crypto holdings, consider the Bitget Wallet as a recommended custody partner for spot crypto holdings; for ETF trading, Bitget’s brokerage-like services and educational resources can help users learn about ETF mechanics and price/NAV relationships.
Suitability and investor profiles
BITO may suit investors seeking regulated exposure to bitcoin price movements without holding spot bitcoin directly in a wallet or custody solution, or for those who prefer the convenience of trading through a brokerage or retirement account. Investors with short-term trading horizons should pay attention to the bito stock price intraday dynamics and liquidity; long-term investors should understand roll costs and how the futures-based structure can diverge from spot performance over time.
References and data sources
Primary sources for the bito stock price and fund details include ProShares fund prospectus and daily NAV reports, NYSE Arca quote pages, SEC filings (Form N‑1A and shareholder reports), and major financial-data providers such as TradingView, CNBC and Investing.com for real-time market quotes and historical data. For futures-curve context consult CME Group futures data and futures-curve snapshots provided by reputable market-data vendors.
See also
- Bitcoin spot price (BTC)
- CME Bitcoin futures
- Other bitcoin ETFs (futures-based and spot-based)
- ETF mechanics
- Contango and backwardation
External links
Suggested pages to check (search on issuer and data provider sites): ProShares official fund page and prospectus; the fund’s daily NAV and fact sheet; NYSE Arca or major market-data platforms for real-time quotes; CME Group for futures-curve data; and reputable financial news coverage (e.g., CNBC, TradingView, Investing.com) for market commentary.
Quantitative snapshot (example data and reporting dates)
Below are example reference figures to orient readers. All numeric figures are snapshots with explicit reporting dates and sources—consult the issuer and market data providers for the latest figures before making decisions.
- Expense ratio: 0.95% (stated in ProShares prospectus; reporting date: as filed at launch and maintained in fund documents).
- Inception date: October 19, 2021 (ProShares launch announcement).
- Distribution frequency: monthly (per ProShares distribution policy; check latest fund documents for amounts and composition).
- Assets under management (AUM): reported by fund issuers and market-data vendors daily; example snapshot—approximately $1.8 billion (as of June 30, 2024; according to ProShares fact sheet). Investors should verify current AUM with the issuer for an up-to-date figure.
- Average daily trading volume: published by exchanges and market-data providers (example 30‑day average: multiple millions of shares; as reported on market-data platforms through mid-2024).
- 52-week range and recent NAV/market-price levels: published on data platforms and fund fact sheets—check the fund’s daily report or a trusted data provider for current high/low figures and last trade price when evaluating the bito stock price.
As of June 30, 2024, according to ProShares reported facts and major market-data providers, the fund continued to list an expense ratio of 0.95% and to deliver monthly distributions. For the most recent bito stock price and NAV, consult the fund’s daily NAV disclosure and an exchange quote feed.
Notable reporting references
As of June 30, 2024, according to ProShares reporting and public market-data summaries, BITO remained an actively traded futures-based bitcoin ETF with ongoing inflows and monthly distributions. For specific event-based reporting (for example, large inflow announcements, changes to distribution policy, or material operational events), check official ProShares press releases and SEC filings; media outlets such as CNBC and financial-data providers regularly publish summaries with reporting dates that cover flow and price impacts on the bito stock price.
Research checklist: how to monitor bito stock price effectively
- Open a market quote page for BITO on your preferred market-data platform to see the live bito stock price.
- Open the fund’s daily NAV and fact sheet (issuer site) to compare market price to NAV and to see distribution and AUM updates.
- Review the front-month vs. next-month CME bitcoin futures spread (rolling yield) to anticipate roll drag that may affect NAV and the bito stock price.
- Check recent fund flow data (inflows/outflows) in the issuer reports to understand supply-demand pressure on the market price.
- Monitor pending distribution record/ex-dividend dates—these can transiently move the bito stock price.
Practical wrap-up and next steps
Tracking the bito stock price requires attention to both market price dynamics and the fund’s NAV behavior driven by futures exposures and roll mechanics. For investors who want regulated ETF access to bitcoin price movements but who prefer trading inside brokerage or retirement accounts, BITO offers a familiar ETF wrapper; however, investors should account for expense ratio, roll costs, monthly distributions and potential tracking differences compared with spot bitcoin.
If you want to act on this information, consider using reliable trading platforms and custody solutions. For those managing both ETF exposure and spot crypto holdings, Bitget and the Bitget Wallet are convenient partners to streamline trading and custody workflows. For NAV details, distribution history and the official bito stock price NAV comparison, always consult the ProShares fund documents and recent SEC filings to confirm the latest figures.
Note: This article is educational and descriptive. It does not constitute investment advice. For tax or investment decisions consult qualified professionals and verify live fund documents and market-data feeds for the most current values of the bito stock price, NAV, AUM and recent distribution history.
