According to the researchers, the product from the very first day very closely imitated the BTC spot price indicators and did not create any problems.

Experts recalled that numerous observers assumed that BITO and other ETFs based on BTC futures would “lag significantly behind bitcoins due to the costs associated with prolonging or selling expiring futures contracts and buying the next set.”

However, everything went completely wrong. “Concerns about the transfer costs have not been confirmed. BITO has been closely monitoring the BTC price since its inception,” Simeon Hyman, global investment strategist at ProShares, told CoinDesk via email.