A 25-year-old who wants to buy Bitcoin can simply tap a button in her PayPal, Square, or Robinhood account, or open an account at Coinbase. A hedge fund or family office can turn to large institutional players like Fidelity for trading and custody services or Lloyd’s of London for insurance.

When ProShares launches its Bitcoin Strategy ETF (ticker: BITO) on Tuesday, it’s not likely to make waves with either of those cohorts.

Instead,…

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