BITO: Bitcoin's Role In The 2024 Election
In May, I speculated that larger investors have been waiting for regulatory clarity to invest in Bitcoin and other digital assets. With the recent approval of spot Ethereum ETFs, that clarity is starting to take form. Former President Trump has already taken a pro-crypto stance publicly and will speak at the Bitcoin 2024 conference in Nashville.
BITO: Bitcoin Bear Market Begins As Excess Liquidity Dries Up
BITO has delivered positive returns since I last covered it, but it has faced significant losses in recent weeks, as Bitcoin appears to enter a bear market. Assuming Bitcoin lacks fundamental use value as a fiat alternative, its returns appear driven by excess liquidity in the financial market. COVID-era stimulus created immense excess financial market liquidity, most of which has dried up, causing speculative assets like Bitcoin to stagnate.
ProShares Debuts Leveraged/Inverse Ether ETFs
On Friday, ProShares rolled out two ETFs offering 2x leveraged and 2x inverse exposure to the performance of ether, respectively. The ProShares Ultra Ether ETF (NYSE Arca: ETHT) and ProShares UltraShort Ether ETF (ETHD).
