BITO Loses Ground as Analyst Slams Fees, Performance

BITO is the first U.S. bitcoin-linked ETF launched in 2021.

The fund's approach allows investors to obtain Bitcoin-linked exposure through a traditional brokerage account without holding Bitcoin directly.

Since spot Bitcoin ETFs launched, BITO has returned 21.11% versus 36.50% for IBIT, despite BITO’s distributions being included in total return.

The analyst rates BITO a Sell for retail buy-and-hold investors but recommends it as a tactical tool for traders and institutions requiring a 1940 Act vehicle.