Since my last assessment of the ProShares Bitcoin Strategy ETF (BITO) on July 24, the fund has experienced a decline of approximately 13%. At the time, I maintained a neutral stance due to the consolidation of the mining industry following the halving event. Notably, I also highlighted the importance of considering the broader market trends.
As a disclosure, I hold a long position in BITO through various investment instruments. This article represents my personal opinions and is intended to provide informative insights. It is essential for investors to conduct their own research and due diligence before making any investment decisions.
It is crucial to recognize that past performance is not indicative of future results. This article should not be construed as personalized investment advice. The views expressed herein are solely those of the author and may not reflect the opinions of Seeking Alpha as a whole.
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