Bitcoin ETFs Outshine S&P 500 Amid Market Stress, Bitcoin ETFs Rise Amid Equity Market Decline

The S&P 500 has dropped 2.5% in the past month, but Bitcoin has risen 7%. Three Bitcoin ETFs have outpaced the market: iShares Bitcoin Trust (IBIT) gained 5.43%, Bitwise Bitcoin ETF (BITB) gained 5.4%, and ProShares Bitcoin ETF (BITO) gained 5.08%. The ETFs' performance is driven by Bitcoin's rise, with IBIT and BITB holding actual Bitcoin directly and BITO using futures contracts with a higher expense ratio that introduces structural roll drag costs.