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Bitcoin ETF Makes More Sense than Oil ETF in the Current Weakening Macro Ba


This week, the world saw oil prices falling into negative territory for the first time ever. As we reported, the deep decline in the price of oil was due to oversupply while the demand had a sharp fall as a result of coronavirus pandemic-induced economic shutdowns.

The United States Oil Fund however, was guaranteed to be a losing bet over time because the price of long-term oil contracts was higher than the spot price.
But still, investors piled into the exchange-traded fund, especially the traders on Robinhood and SoFI invest. These investors rushed to buy the USO ETF which has lost about 80% of its value this year while seeing a 300% increase in ownership month-over-month.