BITO ProShares Bitcoin ETF pays 53.86% yield

[greentech2]

I see BITO (ProShares Bitcoin ETF) paying very good monthly dividend.  If I buy 1000 shares of BITO $17.77/share x 1000 shares = $17777.  I can get $1000 dividend per month.  Any one has the pro and con for this strategy?

[bias]

I see BITO (ProShares Bitcoin ETF) paying very good monthly dividend.  If I buy 1000 shares of BITO $17.77/share x 1000 shares = $17777.  I can get $1000 dividend per month.  Any one has the pro and con for this strategy?

Sorry, but I honestly can't understand what you are asking here. Can you be more specific about what do you mean by "pro and con for this strategy"?

[Uber Keys]

The dividends are taken out of the share price, so you are effectively paying extra tax on your dividend income, you are better off finding on that is growth only so you can take advantage of CGT discounts that most countries offer. Unless you are doing it with tax advantage accounts where you don't pay tax on the dividends that would be a bit more okay to do.

[OgNasty]

If it is too good to be true, it probably is.  Any ETF paying over 10% if we're being honest, is unsustainable.  Saylor is about to learn this with his STRC offering...

Just buy Bitcoin.  You don't need to be the one getting shaken down for your money by wall street financial products.  They're using your money to buy Bitcoin, just cut out the middleman and all the fees and buy Bitcoin yourself.  There is no magic ETF that will outperform it.