Bitcoin hits a one-month trading low, dragging down related ETFs

Bitcoin (BTC-USD) has slid to a one month trading low to start out the week, dragging down related Bitcoin Strategy exchange traded funds that mirror the price action of the cryptocurrency. Bitcoin dropped below the $40K watermark to $39.4K during Monday morning trading. In response, related ETFs fell alongside, including ProShares Bitcoin Strategy ETF (NYSEARCA:BITO), Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF), and the VanEck Bitcoin Strategy ETF (BATS:XBTF). All three exchange traded funds have started the day on their heels as BITO is -1.4%, BTF is -1.2%, and XBTF is -1.1%. BITO, BTF and XBTF are the market’s most high-profile funds offering access to a pure-play approach of the Bitcoin marketplace by accessing Bitcoin futures inside of an ETF wrapper. While all three funds offer investors the same exposure to Bitcoin, XBTF comes at a cheaper rate than the others. From an expense ratio vantagepoint, XBTF has a 0.65% ratio, compared to 0.95% for both BITO and BTF.