Bitcoin futures ETF started trading today, but one crypto expert says its ‘not something for retail investors to buy’

Bitcoin futures ETF started trading today, but one crypto expert says its ‘not something for retail investors to buy’

The first bitcoin-linked exchange-traded fund on Tuesday. After months of applications filed with the Securities and Exchange Commission (SEC) by various ETF providers, the ProShares made its market debut on the New York Stock Exchange (NYSE) under the ticker "BITO." Following the announcement on Friday that the SEC would allow such an ETF, the price of bitcoin , but some crypto experts are still skeptical of the SEC's decision to approve a futures-based bitcoin ETF. "This is not something for retail investors to buy, in my opinion. There's plenty of outlets to buy bitcoin directly," Tyrone Ross, CEO of Onramp Invest, which provides crypto asset management technology for financial advisors, tells CNBC Make It. "Buying a futures ETF, where the average retail investor does not understand ETFs or futures, which are complicated, is not the best product for retail investors." Here's what to understand before buying a futures-based bitcoin ETF, Ross says. "I think the main thing to understand is you're not buying actual bitcoin," Ross says. A bitcoin futures ETF tracks contracts that speculate on the future price of the digital asset, rather than the current or "spot price" of the cryptocurrency itself. As a result, the prices of