This new futures ETF is not the same as buying spot Bitcoin and here’s why.

Long story short, the etf is rolling futures contracts using front month contacts. What this means is that you have to pay a roll yield, and because you’re rolling front month contracts, your return won’t ever match that of bitcoin’s. For example if Bitcoin is up 100%, you might only be up 50%. For those familiar with USO, this etf trades using the same process.