Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) USD Price

The Bitwise Bitcoin Strategy Optimum Roll ETF (BITC), managed by Bitwise Asset Management, is a futures ETF with an inception date of March 18, 2023. Unlike spot ETFs, which directly hold the underlying asset (in this case, Bitcoin), a futures ETF invests in Bitcoin futures contracts. BITC employs an "optimum roll" strategy, which aims to minimize the negative impact of contango and maximize returns by strategically rolling futures contracts based on market conditions. As a result, the performance of a futures ETF like BITC may differ from the spot price of Bitcoin due to factors such as contract rollover, futures market conditions, and the effectiveness of the rolling strategy. BITC charges an annual management fee of 0.92%.